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Subscriber only, premium content. Wednesday, September 28

Gallagher acquires New York brokerage

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Arthur J. Gallagher & Co. has acquired Spataro Insurance Agency, Inc. of Burnt Hills, N.Y.

Terms of the transaction were not disclosed.

Spataro Insurance Agency, which was founded in 1932, is a retail insurance broker providing property/casualty, risk management and personal lines insurance products and services for commercial and individual clients throughout the northeastern United States. The broker specializes in insurance coverage for the manufacturing, technology, construction, restaurant and transportation industries as well as for non-profit organizations, schools and municipalities.

"Spataro is well regarded for their professional standard of service, solid market relationships and depth of expertise," said Gallagher Chairman, President and CEO J. Patrick Gallagher, Jr., in a statement. "Their geographic presence and emphasis on niche specializations will be an excellent complement to our Northeastern operations.”