International insurance brokerage Arthur J. Gallagher & Co. (AJG) has purchased SRS Underwriting Agency in Brisbane, Australia, in an undisclosed transaction.
As part of the deal, Gallagher’s underwriting group in Australia will be lead by Paul Lynam and his associates.
The team will function under the direction of Gallagher’s international underwriting operations head John Hasting-Bass from their current locations in Brisbane, Sydney and Melbourne.
Chairman, president and CEO J. Patrick Gallagher, Jr., said that SRS has been successful in developing an underwriting team for the past two decades.
"Their solid relationship with Lloyd’s, geographic presence and client capabilities will be a strong complement to our growing international operations in Australia," Patrick, Jr. added.
Founded in 1993 as a managing general agency, SRS offers an array of insurance products including liability, construction, prestige home, professional risks, motor, and accident and health cover for their broker clients.
Arthur trades in 17 geographies and delivers client-service capabilities in more than 110 nations around the globe through a network of correspondent brokers and consultants.