Costello Insurance Associates is now operating as Heffernan’s aviation specialty practice under the management of its Phoenix branch office. The financial details of the transaction were not disclosed.
Founded in 1991 by Pat Costello, a seasoned pilot and flight instructor with nearly 4,000 flight hours, Costello Insurance Associates is renowned for its comprehensive coverage solutions for corporate and private aircraft, including jets, gliders, and drones. The firm also provides insurance for aviation operations such as flying clubs, flight schools, and airports, serving clients across the United States.
Pat Costello, along with his team of five employees, will remain in their roles, continuing to support both new and existing customers. This acquisition is expected to enhance Heffernan’s ability to cross-sell aviation insurance to its existing clients, further solidifying its position in the insurance market.
By integrating Costello Insurance Associates, Heffernan Insurance not only broadens its service offerings but also strengthens its presence in the aviation insurance sector, promising comprehensive solutions tailored to the unique needs of the aviation community.
Speaking about the acquisition, Pat Costello, now Vice President of Heffernan Insurance Brokers, said: “Costello Insurance Associates joined Heffernan Insurance Brokers with the understanding we could complement each other. Every indication is that will be the case and the clients will benefit. What stands out is how helpful and nice the people at Heffernan are. The Costello staff and I feel truly fortunate to become a part of the family.’
F. Michael Heffernan, President and CEO of Heffernan Insurance Brokers also commented, saying: “We’re pleased to expand our Phoenix metropolitan area footprint with the addition of Costello Insurance Associates. Costello’s aviation expertise is a welcome addition to our existing specialty practices.”
He added: “ The knowledge and experience of Pat and his team are well respected in the industry, and we’re excited to have them onboard.”
