Tompkins Financial Corporation sells its insurance subsidiary, Tompkins Insurance Agencies, to Arthur J. Gallagher & Co for $223m in cash, expecting a pre-tax gain of $183m. TIA has been operating for 150 years, offering property and casualty insurance and employee benefits services in Pennsylvania and New York.

TIA’s leadership and staff have transitioned to Gallagher, with David Boyce remaining in his position. Customers in Tompkins’ markets now have access to Gallagher’s network. Gallagher chairman J. Patrick Gallagher, Jr welcomes TIA to enhance brokerage capabilities.

In August 2025, Arthur J. Gallagher & Co completed the acquisition of AssuredPartners for $13.45bn, expanding their insurance brokerage services. Tompkins Financial’s sale to Gallagher for $223m was a strategic move to ensure continued success for TIA employees and customers.

Read more at Yahoo Finance: Tompkins Financial sells insurance arm to Gallagher for $223m