U.S. global insurance brokerage and risk management services firm Arthur J. Gallagher & Co. has announced the acquisition of California-based Thomas Costello Insurance Agency. Terms of the transaction were not disclosed.
The deal sees Arthur J. Gallagher & Co. acquire a 1990-founded retail property/casualty broker, and employee benefits consultant and broker, offering commercial and personal coverage to clients primarily across Southern California.
Tom Costello and associates will continue operating from their current location under the direction of the President of Gallaghers southwest region retail property/casualty brokerage operations, Scott Firestone, and Norbert Chung, President of Gallagher’s Western region employee benefits consulting and brokerage operations.
Chairman, President and CEO of Arthur J. Gallagher & Co, J. Patrick Gallagher, Jr., said, “Costello expands our expertise and solidifies our presence as the largest broker in Los Angeles and the San Fernando Valley. I am very pleased to welcome Tom and his associates to our growing Gallagher family of professionals.”
