Gallagher acquires upstate New York agency

Arthur J. Gallagher & Co. has acquired Cool Insuring Agency Inc., Gallagher said in a statement Tuesday.

Terms of the transaction were not disclosed.

Queensbury, New York-based Cool, founded in 1857, provides commercial, personal, and life and health insurance and services to clients in the northeastern U.S. from offices in Queensbury and Latham, New York, with a focus on the construction, health care and government sectors, which together account for more than half of its revenue.

Anthony Mashuta, president and principal of Cool; Ira Neifeld, senior vice president, director and principal; and their associates will continue to operate from their current locations under the direction of Patrick Kennedy, head of Gallagher's Northeast Region retail property/casualty brokerage operations, and Tom Belmont, Jr., head of Gallagher's Atlantic Region employee benefit consulting and brokerage operations.

Gallagher headquartered in Rolling Meadows, Illinois, is the fourth-largest brokerage ranked by revenue generated by U.S. clients, according to Business Insurance’s 2020 ranking.