Arthur J. Gallagher & Co. has announced the acquisition of Hughes Insurance Agency. Terms of the transaction were not disclosed.
Headquartered in Queensbury, N.Y., Hughes Insurance Agency provides commercial, personal, and life and health insurance services to individual and business clients in the Northeast. Under the terms of the acquisition, Linda Abodeely, Joe Koncikowski and their team will continue to operate out of their current location. They will report to Jen Tadin, managing director of Gallagher’s global small business practice.
Hughes Insurance Agency will operate as part of Gallagher Agency Alliance, an M&A model that partners with agencies specializing in small business P&C insurance and employee benefits.
“Hughes Insurance Agency’s strong growth record, reputation for client service and market expertise will enhance our capabilities in the region,” said J. Patrick Gallagher Jr., chairman, president and CEO of Gallagher. “I am delighted to welcome Linda, Joe and their associates to Gallagher.”
Hughes Insurance Agency is the latest in a string of acquisitions for Gallagher. Last week, the global broker announced that it had acquired Michigan-based Coverys Insurance Systems. Earlier this month, the brokerage giant snapped up Connecticut-based WDK Benefits and The Evans Agency, a commercial P&C firm headquartered in Williamsville, N.Y..
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