Madison Benefits Group, a Houston-based employee benefits brokerage and consulting firm, said it has been acquired by Fort Worth, Texas-based Higginbotham & Associates, a national insurance brokerage firm. Financial terms were not announced.

The new partnership, Madison said, expands its current service offerings by adding personal and commercial property and casualty coverage lines and risk management services to its portfolio.

Beth Madison, president and founder of Madison Benefits, said the partnership “further increases our ability to add capacity for our clients. It solidifies Madison's position in the marketplace as the 'go-to-firm' for Texas employers.”

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