Arthur J. Gallagher & Co. has announced the acquisition of California-based Thomas Costello Insurance Agency. Terms of the transaction were not disclosed.
Thomas Costello Insurance Agency is a retail property-casualty broker and an employee benefits consultant and broker. It offers commercial and personal coverage to clients across Southern California. Tom Costello and his staff will continue to operate from their current location in Simi Valley, Calif., under the direction of Scott Firestone, president of Gallagher’s Southwest region retail P&C brokerage operations, and Norbert Chung, president of Gallagher’s Western region employee benefits consulting and brokerage operations.
“Costello expands our expertise and solidifies our presence as the largest broker in Los Angeles and the San Fernando Valley,” said J. Patrick Gallagher, chairman, president and CEO of Gallagher. “I am very pleased to welcome Tom and his associates to our growing Gallagher family of professionals.”