Arthur J. Gallagher & Co. Completes Acquisition of M&T Insurance Agency, Inc.

Rhea-AI Summary

Arthur J. Gallagher & Co. has successfully completed the acquisition of MT Insurance Agency, Inc., based in Buffalo, New York, and an indirect subsidiary of M&T Bank Corporation. The terms of the transaction were not disclosed. Following this acquisition, Gallagher will serve as the preferred insurance broking partner for M&T Bank, enhancing its position in the insurance market. Gallagher, a global leader in insurance brokerage and risk management services, operates in approximately 130 countries and aims to leverage this acquisition to expand its market offerings.

Positive

• Acquisition enhances Gallagher's partnership with M&T Bank, boosting market presence.
• Strengthens Gallagher's position as a global insurance brokerage.

Negative

• None.

ROLLING MEADOWS, Ill., Nov. 1, 2022 /PRNewswire/ -- Arthur J. Gallagher & Co. today announced it has completed the previously disclosed acquisition of Buffalo, New York-based M&T Insurance Agency, Inc. (MTIA), an indirect subsidiary of M&T Bank Corporation. Terms of the transaction were not disclosed.

In connection with the transaction, Gallagher becomes the preferred insurance broking partner of M&T Bank.

Arthur J. Gallagher & Co. (NYSE:AJG), a global insurance brokerage, risk management and consulting services firm, is headquartered in Rolling Meadows, Illinois. Gallagher provides these services in approximately 130 countries around the world through its owned operations and a network of correspondent brokers and consultants.

Investors:  Ray Iardella	Media:  Paul Day
VP - Investor Relations	Communications Manager
630-285-3661/ ray_iardella@ajg.com	630-285-5946/ paul_day1@ajg.com

 

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SOURCE Arthur J. Gallagher & Co.

FAQ

What is the significance of AJG's acquisition of MT Insurance Agency?

The acquisition establishes Gallagher as the preferred insurance broking partner for M&T Bank, enhancing market positioning.

What were the terms of the acquisition of MT Insurance Agency by AJG?

The terms of the transaction were not disclosed publicly.

How will AJG's acquisition of MT Insurance Agency impact its future business?

The acquisition is expected to improve Gallagher's service offerings and expand its footprint in the insurance sector.