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Arthur J. Gallagher & Co. on Tuesday said it has acquired Clayton North, Australia-based Instrat Insurance Brokers Pty Ltd.
A spokeswoman for Gallagher would not comment on the terms of the deal, which were not disclosed.
Instrat provides retail property/casualty insurance for small to middle-market commercial and individual clients, specializing in group programs for franchisees, licensees, associations, tradespeople, medical professionals, martial artists and sporting clubs, Gallagher said in a statement.
Instrat principals Peter Johnston and Jim Santamaria and their associates, totaling approximately 45 employees, will continue in their current location under Andrew Godden, head of Gallagher's Australian brokerage operation.
“The Instrat team is well-regarded for its depth of insurance knowledge and strong market relationships,” said Gallagher Chairman, President and CEO J. Patrick Gallagher Jr. in the statement. “Their strong niche expertise and geographic presence will be an excellent complement to our Australian operations.”
Gallagher has been actively expanding its Australian presence. In April, Gallagher announced it would pay $938.5 million in its largest acquisition to date for the Australian brokerage operations of Wesfarmers, comprising some 1,700 employees in more than 50 offices in Australia, New Zealand and the United Kingdom.
Arthur J. Gallagher is the fourth-largest insurance broker worldwide, according to Business Insurance’s latest ranking.
Arthur J. Gallagher & Co. has acquired certain assets of St. Lucia-based Minvielle & Chastanet Insurance Brokers Ltd., Gallagher said Monday.