M&T Bank Sells Insurance Company to IL Agency

BUFFALO NY – M&T Bank, which operates local branch offices in Boyertown and Birdsboro, said Thursday (Sept. 29, 2022) it signed a definitive agreement to sell its M&T Insurance Agency Inc. to Arthur J. Gallagher & Co., headquartered in Rolling Meadows IL. The transaction is subject to regulatory approval and is expected to close during this year’s fourth quarter. Terms of the sale were not disclosed.

M&T Insurance was founded in 1955, and is a retail insurance agency that offers property and casualty products, customized group benefits, and surety solutions in the Northeast and Mid-Atlantic states. Current agency leadership and direct employees are expected to join Gallagher. It will continue to operate in the entire M&T Bank service area, the bank added.

Gallagher is a global insurance brokerage, risk management, and consulting services firm. It provides services in about 130 countries around the world through its owned operations and a network of correspondent brokers and consultants.