By Mia MacGregor
Feb 3 - (The Insurer) - Arthur J Gallagher has acquired Syracuse, New York-based commercial and personal lines insurance agency Dominick Falcone Agency and its affiliate Falcone Associates.
Terms of the deal were not disclosed.
Dominick Falcone Agency provides property and casualty insurance to commercial and personal clients throughout central New York, while Falcone Associates offers employee benefits services.
Michael Lavalle, David MacLachlan, Renee Guariglia, Chris Marshall, and their team will continue to operate from their current location under Brendan Gallagher, head of Gallagher's northeast retail property/casualty brokerage operations, and Scott Sherman, head of northeast employee benefits consulting and brokerage operations.
"Dominick Falcone Agency and Falcone Associates have a strong market reputation and will further enhance our retail brokerage capabilities in central New York," said Patrick Gallagher, chairman and CEO of Gallagher.
Additionally, Gallagher also announced that its claims and risk management subsidiary, Gallagher Bassett, has acquired UK-based WK Webster & Co, a specialist in marine and transit claims management.
During its fourth quarter earnings call, Gallagher management revealed approximately $3.5bn in available funding for mergers and acquisitions in 2025.
The company completed 20 tuck-in mergers during the quarter, representing about $200mn in estimated annualised revenue, bringing the full year total to $387mn.
In addition to the $3.5bn available to fund M&A in 2025, CFO Douglas Howell said the group expects to have close to $5bn available in 2026.
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