Arthur J. Gallagher & Co. Acquires Dominick Falcone Agency, Inc., and Falcone Associates, Inc.

Rhea-AI Summary

Arthur J. Gallagher & Co. (NYSE:AJG) has announced the acquisition of Syracuse-based Dominick Falcone Agency and Falcone Associates. The acquired companies specialize in property/casualty insurance for commercial and personal clients in central New York, along with employee benefits services.

The existing team, including Michael Lavalle, David MacLachlan, Renee Guariglia, and Chris Marshall, will maintain their current location, operating under Gallagher's Northeast region leadership. The acquisition aims to strengthen Gallagher's retail brokerage capabilities in central New York. Financial terms were not disclosed.

Gallagher, headquartered in Rolling Meadows, Illinois, operates as a global insurance brokerage, risk management, and consulting services firm, with presence in approximately 130 countries through owned operations and correspondent networks.

Positive

• Strategic expansion of retail brokerage capabilities in central New York market
• Acquisition adds both property/casualty and employee benefits service capabilities
• Retention of experienced local team maintains business continuity

Negative

• None.

Insights

Insurance Industry Analyst

This strategic acquisition by Arthur J. Gallagher (AJG) demonstrates the company's continued execution of its targeted growth strategy in the fragmented insurance brokerage market. The purchase of Dominick Falcone Agency and Falcone Associates is particularly noteworthy for several reasons:

First, the dual-capability acquisition (property/casualty and employee benefits) creates immediate cross-selling opportunities and operational synergies in the lucrative central New York market. The Northeast region represents one of the largest insurance markets in the U.S., with dense concentration of commercial clients and high premium volumes.

Second, the retention of the existing leadership team under regional management indicates a well-structured integration approach that typically results in higher client retention rates and smoother operational transition. This aligns with AJG's successful acquisition playbook, which has historically focused on preserving local market relationships while leveraging the parent company's broader resources and carrier relationships.

While financial terms weren't disclosed, this type of strategic bolt-on acquisition typically carries attractive economics for AJG, with expected accretion to earnings within 12-24 months post-integration. The transaction reinforces AJG's position as a leading consolidator in the insurance brokerage space, where scale and market density are important competitive advantages.

The timing is particularly strategic as the insurance market continues to harden, with rising premiums creating organic growth opportunities for brokers. This acquisition strengthens AJG's market position during a period when sophisticated risk management and employee benefits solutions are in high demand.

ROLLING MEADOWS, Ill., Feb. 3, 2025 /PRNewswire/ -- Arthur J. Gallagher & Co. today announced the acquisition of Syracuse, New York-based Dominick Falcone Agency, Inc., and Falcone Associates, Inc. Terms of the transaction were not disclosed.

Dominick Falcone Agency provides property/casualty insurance products to commercial and personal lines clients primarily in central New York, and its affiliate Falcone Associates offers employee benefits services. Michael Lavalle, David MacLachlan, Renee Guariglia, Chris Marshall and their team will remain in their current location under the direction of Brendan Gallagher, head of Gallagher's Northeast region retail property/casualty brokerage operations, and Scott Sherman, head of Gallagher's Northeast region 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 J. Patrick Gallagher, Jr., Chairman and CEO. "I am delighted to welcome Michael, David, Renee, Chris and their associates to Gallagher."

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, VP - Investor Relations			Media: Paul Day, 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 companies did Arthur J. Gallagher (AJG) acquire in Syracuse, New York?

Arthur J. Gallagher acquired Dominick Falcone Agency, Inc., which provides property/casualty insurance, and Falcone Associates, Inc., which offers employee benefits services, both based in Syracuse, New York.

How will the Falcone agencies integrate into AJG's existing operations?

The Falcone agencies' team will remain in their current location, operating under Brendan Gallagher (Northeast region retail property/casualty operations) and Scott Sherman (Northeast region employee benefits operations).

What services do the newly acquired Falcone companies provide to AJG?

Dominick Falcone Agency provides property/casualty insurance for commercial and personal lines clients, while Falcone Associates offers employee benefits services, primarily in central New York.

What is the strategic importance of AJG's Falcone acquisition in February 2025?

The acquisition enhances AJG's retail brokerage capabilities in central New York, strengthening their market presence and service offerings in the region.