Rolling Meadows, Ill., April 22, 2024 /PRNewswire/ — Arthur J. Gallagher & Co., a leading global insurance brokerage, has finalized the acquisition of Prasidium Credit Insurance, a prominent player in the Australian market. The transaction details remain undisclosed.
Prasidium, renowned as a specialist trade credit insurance broker catering to clients across Australia, brings its expertise and client base into the fold of Arthur J. Gallagher & Co. Mark Smith, Stuart Prendergast, Mark Browning, Paul Daniele, and their adept team will integrate with Gallagher’s existing offices across Australia. This transition will be overseen by Sarah Lyons, the head of retail property/casualty brokerage operations for Gallagher in Australia and Asia.
Expressing his enthusiasm for the acquisition, J. Patrick Gallagher, Jr., Chairman, and CEO of Arthur J. Gallagher & Co., remarked, “Prasidium’s consistent growth trajectory positions them as a valuable addition to our trade credit capabilities in Australia. We extend a warm welcome to the Prasidium team as they join our expanding global network.”
Arthur J. Gallagher & Co. (NYSE: AJG), headquartered in Rolling Meadows, Illinois, stands as a distinguished provider of insurance brokerage, risk management, and consulting services worldwide. With operations spanning approximately 130 countries, Gallagher delivers its comprehensive suite of services through its owned entities and a network of correspondent brokers and consultants.
The acquisition of Prasidium represents another strategic move by Arthur J. Gallagher & Co. to bolster its presence and expertise in key markets, further solidifying its position as a leader in the global insurance industry.
