Arthur J. Gallagher (AJG) & Co. announced the acquisition of Batavia, New York-based Tompkins Insurance Agencies, a wholly-owned subsidiary of Tompkins Financial Corporation (TMP). Tompkins Insurance Agencies offers a full suite of property/casualty insurance products and employee benefits services to clients throughout New York and Pennsylvania. David Boyce, president of Tompkins Insurance Agencies, and his team will remain in their current location under the direction of Brendan Gallagher, head of Gallagher’s Northeast region retail property/casualty brokerage operations, and Scott Sherman, head of Gallagher’s Northeast region employee benefits consulting and brokerage operations. Tompkins Insurance Agencies pro forma revenues and EBITDAC for the trailing 12 months ended June 30, 2025 were approximately $40M and $16M, respectively. Under the agreement, Gallagher will acquire the stock of Tompkins Insurance Agencies for $183M, which is net of Gallagher’s discounted tax benefit associated with the transaction of approximately $40M.
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