Arthur J. Gallagher & Co. Acquires Australia’s Prasidium Credit Insurance

Arthur J. Gallagher & Co., the Rolling Meadows, Illinois-based broker, announced the acquisition of Australia’s Prasidium Credit Insurance.

Terms of the transaction were not disclosed.

North Sydney-based Prasidium is a specialist trade credit insurance broker serving clients throughout Australia. Mark Smith, Stuart Prendergast, Mark Browning, Paul Daniele and their team will join Gallagher offices across Australia under the direction of Sarah Lyons, head of retail property/casualty brokerage operations for Gallagher in Australia and Asia.

“Prasidium has a strong record of growth and will enhance our trade credit capabilities in Australia,” said J. Patrick Gallagher Jr., chairman and CEO. “I am very pleased to welcome the Prasidium team to our growing, global company.”

Source: Arthur J. Gallagher & Co.