Arthur J. Gallagher acquires Prasidium Credit Insurance, terms not disclosed

Arthur J. Gallagher & Co. announced the acquisition of Australia-based Prasidium Credit Insurance. Terms of the transaction were not disclosed. 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.”