The news follows on from reports earlier this year, of Gallagher’s acquisition of Forest Insurance Facilities by its US wholesale brokerage, binding authority, and programmes division, Risk Placement Services, Inc. (RPS).

Prasidium Credit Insurance, headquartered in North Sydney, is a specialist broker focusing on trade credit insurance and serving clients across Australia. Key team members, including Mark Smith, Stuart Prendergast, Mark Browning, and Paul Daniele, will integrate into Gallagher offices throughout Australia.

The integration will be overseen by Sarah Lyons, head of retail property and casualty brokerage operations for Gallagher in Australia and Asia. This acquisition expands Gallagher’s presence in the region and enhances its trade credit insurance capabilities.

“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.”