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).

About Tompkins Insurance Agencies

Tompkins Insurance Agencies provides a full 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, along with his team, will continue to operate from their current location. They will now work under Brendan Gallagher, head of Gallagher's Northeast region retail property/casualty brokerage, and Scott Sherman, head of the 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

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

Summary: This acquisition strengthens Arthur J. Gallagher & Co.'s insurance brokerage presence in New York and Pennsylvania by integrating a well-established firm with robust financial performance and experienced leadership.

PR Newswire — 2025-11-04