Arthur J. Gallagher Acquires Prasidium Credit Insurance; Terms Not Disclosed
Portfolio Pulse from Benzinga Newsdesk
Arthur J. Gallagher (AJG) has acquired Prasidium Credit Insurance, a specialist trade credit insurance broker in Australia. The terms of the acquisition were not disclosed. The Prasidium team, including key figures Mark Smith, Stuart Prendergast, Mark Browning, and Paul Daniele, will join Gallagher's Australian offices under Sarah Lyons, head of retail property/casualty brokerage operations for Gallagher in Australia and Asia.

April 22, 2024 | 9:02 pm
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Arthur J. Gallagher's acquisition of Prasidium Credit Insurance expands its footprint in the Australian insurance market, particularly in trade credit insurance.
The acquisition of Prasidium Credit Insurance by Arthur J. Gallagher is likely to have a positive short-term impact on AJG's stock price. This move not only expands Gallagher's service offerings in the Australian market but also strengthens its position in the trade credit insurance sector. The lack of disclosed terms makes it difficult to assess the financial impact, but strategically, this acquisition aligns with Gallagher's growth objectives in the Asia-Pacific region. The integration of Prasidium's team under Gallagher's Australian operations could enhance operational efficiencies and market reach.
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