US-based insurance brokerage and risk management services firm Arthur J. Gallagher & Co. (AJG) has acquired Australia-based Instrat Insurance Brokers.
Terms of the transaction have not been disclosed.
Arthur J. Gallagher & Co. chairman, president and CEO J. Patrick Gallagher, Jr., said: "With more than 20 years of experience, the Instrat team is well-regarded for its depth of insurance knowledge and strong market relationships.
"Their sales and marketing culture mirrors ours, and their strong niche expertise and geographic presence will be an excellent complement to our Australian operations. We are pleased to welcome Peter, Jim and their colleagues to our growing Gallagher family of professionals."
Founded in 1994, Instrat is an insurance broker and risk management services firm, which offers retail property/casualty insurance products and services for small to middle-market commercial and individual clients.
The company is specialized in developing group programs for franchisees, licensees, associations, tradespeople, medical professionals, martial artists and sporting clubs.
Under the leadership of Gallagher’s Australian brokerage operation head Andrew Godden, Instrat’s Peter Johnston, Jim Santamaria and their associates will continue to operate in their current location.
With operations in around 30 countries, AJG provides client-service capabilities in about 140 countries across the globe through a network of correspondent brokers and consultants.
Image: Gallagher has acquired Australia’s insurance broker and risk management services firm Instrat. Photo: courtesy of David Castillo Dominici/ FreeDigitalPhotos.net.