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Gallagher acquires Australian broking group

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Arthur J. Gallagher & Co. on Tuesday said it has acquired Beenleigh, Australia-based Ace-IRM Insurance Broking Group Pty Ltd.

Terms of the deal were not disclosed.

Ace-IRM is a retail insurance broker that provides general commercial and personal lines broking services in Australia. It also specializes in insurance coverages for strata management, veterinary services and the commercial, industrial and hotel/hospitality industries, Gallagher said in a statement. 

Ace-IRM executives Greg Flower, now a principal broker for Gallagher, Ann Flower, now an account exective, and their associates will continue to operate in their current location under the direction of Sarah Lyons, head of Gallagher's commercial broking operations in Australia. Ace-IRM has one office and 15 employees, according to a Gallagher spokeswoman. 

Gallagher made its first big move in Australia in 2014 with its purchase of Australian conglomerate Wesfarmers Ltd.'s insurance brokerage operations. 

Arthur J. Gallagher is the world’s fourth-largest insurance broker, according to Business Insurance’s latest ranking.