Gallagher Advances Acquisition Strategy with New Deals
Gallagher, a Rolling Meadows-based insurance brokerage, continues its aggressive acquisition approach while integrating its $13.45 billion purchase of AssuredPartners.
Recent Acquisitions
- Tompkins Insurance Agencies: Gallagher acquired the property/casualty insurance and employee benefits division of Tompkins Financial Corp. for $183 million. The transaction includes a $40 million tax benefit for Gallagher.
- Surescape Insurance Services: The company also purchased Denver-based Surescape Insurance Services, which focuses on U.S. insurance services. Financial terms of this deal were not disclosed.
Industry Context
Scaling through mergers and acquisitions remains a crucial growth strategy in the insurance sector, as companies compete to increase their market influence. Despite industry uncertainties, merger and acquisition activity continues to be strong.
About the Author
Mark Weinraub is a banking and finance reporter at Crain’s Chicago Business. He joined Crain’s in 2023, following a long tenure at Reuters covering commodities, agriculture, government, and more. A Northwestern Medill School of Journalism graduate, Weinraub has worked in various bureaus, including Washington and New York.
Author’s summary: Gallagher sustains its rapid acquisition pace, adding two agencies amid ongoing integration of its $13.45 billion AssuredPartners purchase, underscoring industry-wide growth through consolidation.