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

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

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

Leadership and Operations

David Boyce, president of Tompkins Insurance Agencies, and his team will continue to operate from their current location. They will report to Brendan Gallagher, head of Gallagher's Northeast retail property/casualty brokerage operations, and Scott Sherman, head of Gallagher's Northeast 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

Pro forma revenues for the 12 months ended June 30, 2025: approximately $40 million
EBITDAC for the same period: approximately $16 million
Gallagher will acquire Tompkins Insurance Agencies stock for $183 million, net of a discounted tax benefit of approximately $40 million

This acquisition strengthens Gallagher's presence in the Northeast insurance market by expanding its services and expertise.

Would you like the summary to be more detailed or concise?

PR Newswire — 2025-11-04