Gallagher’s $183 Million Acquisition of Tompkins Insurance Marks Major Expansion in the Northeast
Gallagher Targets Strategic Growth in Regional Brokerage
Arthur J. Gallagher & Co. is moving assertively to boost its Northeast presence with the $183 million acquisition of Tompkins Insurance Agencies, a major player in property/casualty and employee benefits based in Batavia, New York. The acquisition, announced November 3, 2025, incorporates Tompkins’ $40 million in annual pro forma revenues and $16 million in EBITDAC for the trailing 12 months into Gallagher’s rapidly expanding footprint.
Integration Preserves Leadership and Regional Expertise
Leadership continuity is front and center in this deal: David Boyce, president of Tompkins Insurance Agencies, along with his team, will remain in place, reporting to Gallagher’s Northeast heads Brendan Gallagher (retail property/casualty) and Scott Sherman (employee benefits). This strategic decision allows Gallagher to leverage local expertise while scaling its established services across New York and Pennsylvania.
Acquisition Details Highlight Market Expansion
The transaction involves a purchase price of $183 million, adjusted for a $40 million tax benefit to Gallagher. This brings new commercial lines, personal lines, and benefits capabilities under Gallagher’s regional operation, positioning it for broader service delivery to businesses and individuals alike.
| Metric | Value |
|---|---|
| Purchase Price | $183 million |
| Pro Forma Revenues (Trailing 12M) | $40 million |
| Pro Forma EBITDAC (Trailing 12M) | $16 million |
| Discounted Tax Benefit to Gallagher | $40 million |
Consolidation Trends Signal Ongoing M&A Momentum in Insurance
This acquisition comes as insurance brokers continue consolidating to meet demand for specialized regional expertise and a broader range of products. Gallagher, already active in 130 countries, is leveraging local teams like Tompkins to scale its risk management and employee benefits consulting even further.
Key Takeaway: New Synergies, More Choices for Northeast Clients
The move underlines Gallagher’s appetite for growth in core markets, providing a platform for further regional acquisitions. With experienced leadership staying on and expanded resources available to clients, businesses and individuals in the Northeast can expect a wider menu of insurance and benefits solutions from one of the industry’s largest players.
For Further Information
| Contact | Role | Email / Phone |
|---|---|---|
| Ray Iardella | VP - Investor Relations | ray_iardella@ajg.com / 630-285-3661 |
| Paul Day | Senior Media Relations Manager | paul_day1@ajg.com / 630-285-5946 |
More details are available in Gallagher’s original press release and on their website.
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