09:33 AM EST, 11/03/2025 (MT Newswires) -- Arthur J. Gallagher ( AJG ) has closed its acquisition of Tompkins Financial ( TMP ) subsidiary Tompkins Insurance Agencies for about $223 million in cash, the companies said Monday.

The Tompkins Insurance team, headed by president David Boyce, has joined Gallagher and will continue to operate from their current location, the companies said separately.

Tompkins said the deal generates a pre-tax gain of $183 million.