Arthur J. Gallagher acquires Australia’s Prasidium Credit Insurance

Global insurance brokerage Arthur J. Gallagher & Co. has announced the acquisition of Australia-based Prasidium Credit Insurance (Prasidium).

Prasidium is a specialist trade credit insurance broker serving clients throughout Australia.

Established in 2015 in Sydney, the company has grown quickly to become a national specialty trade credit broker.

The company reportedly has a team of 17 professionals.

It has been confirmed, that Prasidium, led by 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.

Terms of the transaction were not disclosed.

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

Earlier this month, Arthur J. Gallagher & Co. acquired two Florida-based companies: Specialty Risk Management Services, LLC, and Private Client Insurance Services, LLC, both located in Fort Myers.

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