Alliant Insurance Services has expanded its footprint in Texas with the acquisition of Highpoint Insurance Group, a multi-line insurance broker based in Friendswood.
This is the second acquisition for Alliant in Texas in a month, following its recent acquisition of McAfee Insurance Agency in Mercedes.
Highpoint Insurance Group, which employs 44 people, will now operate under the Alliant name. The firm serves middle-market clients in the Greater Houston area, offering commercial and personal lines as well as employee benefits insurance.
Todd Yomtov, managing director of Alliant Americas, said the acquisition aligns with Alliant’s focus on entrepreneurship and organic growth.
“Highpoint has demonstrated principles that align with Alliant in their entrepreneurial approach and commitment to organic growth,” Yomtov said. He added that the firm is expected to benefit from Alliant’s national specialty resources.
The acquisition is expected to strengthen Alliant’s presence in sectors such as oil and gas, construction, and surety.
The timing of the acquisition comes as the Texas oil and gas sector faces new challenges. Industry analysts report that oil and gas companies across the US are preparing for a potential downturn as capital budgets tighten.
This environment is prompting many firms to reevaluate their investment and operational strategies, with a particular impact on regions like Texas where energy remains a major economic driver.
According to Wood Mackenzie, upstream spending in North America is projected to decline by 5% this year. The report notes that operators are shifting toward more cautious investment, prioritizing cash flow and shareholder returns over expansion. This trend is leading to reduced drilling activity and delayed projects, which may influence the types of insurance coverage Texas energy businesses require.
As these industry shifts continue, there is an increased focus on cost control, risk mitigation, and strategic partnerships within the energy sector. Insurance brokers and carriers with expertise in oil and gas, especially those operating in Texas, may need to adapt their offerings to address evolving client needs in a tightening market.
