Gallagher to acquire retail insurance agency MTIA from M&T Bank

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Arthur J. Gallagher & Co. (Gallagher) has agreed to acquire M&T Insurance Agency, Inc. (MTIA), a retail insurance agency, from M&T Bank Corporation for an undisclosed price.

Established in 1955, M&T Insurance Agency provides a range of property and casualty products, tailored group benefits, and surety solutions

The retail insurance agency serves the Northeast and Mid-Atlantic regions in the US. Its present leadership and direct employees are likely to join Gallagher.

Jennifer Warren — Senior Executive Vice President and Head of M&T Bank Institutional Client Services business said: “When we started to discuss the possibility of this transaction with Gallagher, it became immediately clear that this was the optimal company for both our customers and our employees.

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“Our goal was to create a seamless transaction with a world-class company that stresses excellence in everything they do. We found that with Gallagher.”

M&T Bank Corporation to sell retail insurance agency MTIA to Arthur J. Gallagher & Co.

M&T Bank Corporation to sell retail insurance agency MTIA to Arthur J. Gallagher & Co.

As per the terms of the deal, M&T Insurance Agency will continue serving the entire footprint of M&T Bank while making use of the resources of the global broking and insurance services operations of Gallagher.

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John Rumschik, Zachary Howe, Bart Kresse, and their teams will work under the leadership of Patrick Kennedy, who is the head of Gallagher’s retail property/casualty brokerage operations in the Northeast region.

J. Patrick Gallagher, Jr. — Chairman, President, and CEO of Gallagher said: “M&T Insurance Agency has a long record of client-focused offerings and expertise, and this will help us expand our footprint in the New York region.

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“We look forward to welcoming John, Bart, Zachary and their associates to Gallagher.”


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