Gallagher Continues Acquisition Momentum with Two New Deals
Gallagher, the insurance brokerage headquartered in Rolling Meadows, is maintaining its aggressive acquisition strategy. This week, the company completed two significant deals while integrating its recent $13.45 billion purchase of AssuredPartners.
Recent Acquisitions
- Gallagher acquired Tompkins Insurance Agencies, the property/casualty insurance and employee benefits division of Tompkins Financial Corp., for $183 million. The deal includes a $40 million tax benefit for Gallagher.
- The company also purchased Surescape Insurance Services, a Denver-based agency focused on the U.S. insurance market. The financial details of this transaction were not disclosed.
Industry Context
Expanding through mergers and acquisitions remains crucial for insurance companies, as achieving scale is a key competitive advantage. Despite industry uncertainties, merger activity continues to be strong.
About the Reporter
Mark Weinraub, a banking and finance reporter for Crain’s Chicago Business, joined the publication in 2023 after a long career at Reuters. He covered commodities, agriculture, futures exchanges, government, and other sectors, and worked in the Washington and New York bureaus. Weinraub graduated from Northwestern's Medill School of Journalism.
"Gallagher is keeping its foot on the gas with its acquisition strategy, notching two deals this week, even as it works to integrate its $13.45 billion deal for AssuredPartners."
Author’s summary: Gallagher is steadily expanding its insurance footprint by closing multiple acquisitions while integrating a major $13.45 billion purchase, highlighting its commitment to growth through scale.
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