Arthur J. Gallagher & Co. has acquired W.N. Tuscano Agency through Risk Placement Services, its U.S. wholesale brokerage, binding authority and programs division. Financial terms of the transaction were not disclosed.
Based in Greensburg, Pennsylvania, Tuscano operates as a managing general agency and wholesale insurance broker serving independent agents across western Pennsylvania.
Managing general agencies typically have delegated authority from insurance carriers to perform functions such as underwriting, pricing, binding coverage and administering specialized insurance programs. Wholesale brokers help retail insurance agents access carriers and products that may not be available through standard insurance markets.
Gallagher expects the acquisition to strengthen Risk Placement Services’ market expertise and expand its wholesale capabilities across Pennsylvania. The transaction also adds Tuscano’s regional relationships and experience serving independent agencies.
Robin Tuscano and the agency’s employees will remain at their current location. The team will operate under the direction of Steve Levin, Northeast Region leader for Risk Placement Services.
Risk Placement Services provides wholesale brokerage, binding authority and program administration services for insurance agents and brokers. The division focuses on complex, specialty and higher-risk insurance needs that may require access to surplus lines or other specialized markets.
Arthur J. Gallagher is a global insurance brokerage, risk management and consulting firm headquartered in Rolling Meadows, Illinois. The company provides services in approximately 130 countries through owned operations and a network of correspondent brokers and consultants.
KEY QUOTE:
“Tuscano is a highly regarded agency that complements our market expertise and further expands our wholesale capabilities in Pennsylvania. I am delighted to welcome Robin and his associates to our growing, global team.”
J. Patrick Gallagher, Jr., Chairman and CEO of Arthur J. Gallagher & Co.
