Historic Merger in New York: Bailey Place to Acquire Tanner Ibbotson

Bailey Place Insurance has agreed to acquire Tanner Ibbotson in a merger of two historic Cortland, New York-based independent insurance agencies.

Effective April 1, 2024, Tanner Ibbotson’s office on West Road will close. No layoffs are planned and most of the expanded 30+ person Bailey Place workforce will operate from the company’s North Main Street offices in downtown Cortland. Bailey Place also has offices in Dryden and Ithaca.

Bailey Place’s roots in Cortland go back to 1858. Tanner Ibbotson was founded in 1928.

Bailey Place President Stephen Franco said he and Tanner Ibbotson President Eric Mertz “have been friends for many years and have enjoyed leaning on each other when faced with coverage or technical questions.”

Tanner Ibbotson will bring a “more robust employee benefits division,” said Franco. At the same time, Tanner Ibbotson clients will now also have access to additional carrier options such as Erie Insurance, Cincinnati Insurance and Liberty Mutual.

Topics Mergers & Acquisitions New York