Marshall & Sterling Insurance, a Poughkeepsie-based firm with a large Albany presence, has acquired Adirondack Regional Insurance Agency in Queensbury. The acquisition closed on Jan. 1.“We are very excited to join the Marshall &Sterling family,” said Jeffrey D. Howard, president of Adirondack Regional Insurance Agency. “Being part of a much larger organization, we will now have in-creased capabilities such as additional insurance carriers represented, the ability to handle exposures in other states, in-house loss control services, employee benefits, and wealth management, just to name a few.” Adirondack was founded by Howard in 1997and has two offices located in Queensbury and Warrensburg, providing personal and commercial insurance coverage and services. With the acquisition of Adirondack, Marshall &Sterling’s operations will include 36 offices across five U.S. states and the U.S. Virgin Islands. Marshall& Sterling is already one of the largest in Albany with $848.22 million in total local insurance volume in 2019.The transaction is the latest in a number of recent independent insurance company acquisitions. Last month, Marshall & Sterling announced plans to acquire Jaeger & Flynn Associates Inc., one of the largest independent firms in the Albany area. That acquisition closed on Jan. 1.Cool Insuring Agency Inc.—which was founded in 1857 by Charles W. Cool, the first mayor of Glens Falls—was acquired by Arthur J. Gallagher & Co. at the end of 2020.Also, the largest insurance agency in the Albany area, Rose & Kiernan, was acquired by a large New York City firm in August 2020.
