Arthur J. Gallagher & Co. Acquires Tompkins Insurance Agencies, Inc.

Arthur J. Gallagher & Co. announced the acquisition of Tompkins Insurance Agencies, Inc., based in Batavia, New York. Tompkins Insurance Agencies is a wholly-owned subsidiary of Tompkins Financial Corporation (NYSE: TMP).

Tompkins Insurance Agencies provides a full range of property/casualty insurance products and employee benefits services across New York and Pennsylvania.

Leadership and Post-Acquisition Structure

David Boyce, president of Tompkins Insurance Agencies, along with his team, will remain in their current location. They will operate under 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 is a highly regarded firm that enhances our brokerage capabilities in the region across commercial lines, personal lines and employee benefits," said J. Patrick Gallagher, Jr., Chairman and CEO. "I am excited to welcome David and his associates to Gallagher."

Financial Details of the Acquisition

Tompkins Insurance Agencies' pro forma revenues for the 12 months ended June 30, 2025, were approximately $40 million.
EBITDAC for the same period was roughly $16 million.
Gallagher will acquire the stock for $183 million, net of a discounted tax benefit estimated at $40 million.

Summary: The acquisition of Tompkins Insurance Agencies advances Gallagher's regional insurance capabilities, maintaining leadership continuity and strengthening their service offerings.

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PR Newswire — 2025-11-03