M&T Insurance Agency, Inc. has acquired Hess Egan Hagerty & L’Hommedieu, Inc., a commercial insurance and surety brokerage agency based in Chevy Chase, Maryland, with additional offices in Pennsylvania and New Jersey.
Hess Egan will operate as a division of MTIA, a subsidiary of M&T Bank, MTIA is a full-service commercial property and casualty insurance agency.
Hess Egan was established in 1967 and has 38 employees. The current principals, Robert E. Walsh, Eugene P. Dessureau, John J. Younger, Donald W. Armbrecht, and Stephen W. Freeman will remain with the newly created division of MTIA.
“This acquisition will add significantly to our company’s strong market position in the Mid-Atlantic region,” said Atwood “Woody” Collins III, president of M&T Bank’s Mid-Atlantic Division.
Robert E. Walsh, president of Hess Egan, will become vice president and regional manager of the division.
M&T Bank is the principal banking subsidiary of Buffalo, N.Y.-based M&T Bank Corporation. M&T has $55 billion in assets and 650 branches located in New York, Pennsylvania, Maryland, Virginia, West Virginia, Delaware and the District of Columbia.
Topics Mergers & Acquisitions Maryland
Was this article valuable?
Here are more articles you may enjoy.
The Battle Over J&J’s Bankruptcy Plan to End Talc Lawsuits 
Insurance Broker TWFG Aims to Raise Up to $176M in IPO 
Reinsurers’ Appetite Grows During Mid-Year Renewals but Discipline Remains: Brokers 
AT&T Says Data From Around 109M Customer Accounts Illegally Downloaded 
