Gallagher acquires New York insurance agency Cool

Broker Arthur J Gallagher has acquired New York-based Cool Insuring Agency, a provider of commercial, personal, and life & health insurance and consulting services in the US.

The agency specializes in serving construction and healthcare industry clients, as well as governments and municipalities, which together account for more than half of its revenues.

Following the deal, Anthony Mashuta, Ira Neifeld 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.

J. Patrick Gallagher, Jr., chairman, president and CEO of Gallagher, said: "Cool Insuring Agency has operated for more than 160 years and is viewed as the premier independent agency in Upstate New York. Their specialties align closely with our construction, healthcare, senior living and public entity practices. We are delighted to welcome Tony, Ira and their associates to our growing Gallagher team."