SYRACUSE, N.Y. — Dominick Falcone Agency, Inc. and affiliate Falcone Associates, Inc., of Syracuse, have been acquired by Arthur J. Gallagher & Co. (NYSE: AJG), a global insurance brokerage, risk management and consulting services firm headquartered near Chicago, Illinois, Gallagher announced this week. Financial terms of the transaction were not disclosed in Gallagher’s Feb. 3 […]
SYRACUSE, N.Y. — Dominick Falcone Agency, Inc. and affiliate Falcone Associates, Inc., of Syracuse, have been acquired by Arthur J. Gallagher & Co. (NYSE: AJG), a global insurance brokerage, risk management and consulting services firm headquartered near Chicago, Illinois, Gallagher announced this week.
Financial terms of the transaction were not disclosed in Gallagher’s Feb. 3 announcement.
Dominick Falcone Agency provides property/casualty insurance products to commercial and personal-lines clients primarily in Central New York, and its affiliate Falcone Associates provides employee-benefits services to businesses and individuals.
Michael Lavalle and David MacLachlan, partners in the Dominick Falcone Agency, and Renee Guariglia and Chris Marshall, partners in Falcone Associates, and their teams will remain in their current office location, Gallagher said. The firms, which had about 15 employees before the sale, according to the Falcone website, have an office at 507 Plum St. in the Franklin Square area of Syracuse.
The Falcone staff will now be 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, the acquiring firm said.
“Dominick Falcone Agency and Falcone Associates have a strong market reputation and will further enhance our retail brokerage capabilities in Central New York,” J. Patrick Gallagher, Jr., chairman and CEO, said in a statement. “I am delighted to welcome Michael, David, Renee, Chris and their associates to Gallagher.”
Arthur J. Gallagher & Co. — based in Rolling Meadows, Illinois (near Chicago) — provides insurance services in 130 countries around the world through its owned operations and a network of correspondent brokers and consultants. The company, which has about an $80 billion market capitalization, generated total revenue of more than $9.9 billion in 2024. It employs about 56,000 people across the globe.
Acquisitions are a key part of Gallagher’s growth strategy, as it completed 20 new mergers last quarter and 48 mergers for the full year, according to its latest earnings report.
