#344 - Rusty Reid - CEO @ Higginbotham - Building An Insurance Business That Has Compounded 20% YoY for 35+ years

The Fort - An Entrepreneurship Podcast

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Rusty Reid was named president and CEO of Higginbotham in 1989 at the age of 27. At that time, he implemented the firm’s defining “single source” service model whereby customers can obtain all their insurance and financial services under one roof. He also had the foresight to establish Higginbotham’s employee ownership structure, aligning all employees’ interests in the success of the firm. Under Rusty’s leadership, Higginbotham has grown to become the nation’s 21st-largest independent insurance brokerage firm and Texas’s largest—one with full property/casualty, financial, and HR service capabilities through offices coast to coast.

We discuss:

How to recruit well and build a culture
Successfully integrating acquired companies
Philosophy of generosity

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Links

Higginbotham

Topics

(00:00:00) - Intro

(00:01:56) - Infectious energy

(00:04:38) - Rusty’s early life and career

(00:22:34) - Company growth strategies

(00:31:30) - How to recruit well

(00:37:35) - Building culture

(00:42:15) - Rusty on ‘buying themselves’

(00:56:18) - Going on offense and acquiring companies

(01:01:27) - The value in staying busy

(01:05:52) - How to value an insurance business

(01:11:16) - How do you integrate an acquisition?

(01:17:10) - StonePoint partnership

(01:20:45) - Thoughts on AI

(01:26:51) - Philosophy on generosity

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