Gallagher announces merger with trade credit insurance broker

Gallagher, the international risk management firm, has announced a merger with Sydney headquartered specialist trade credit insurance broker, Prasidium Credit Insurance (Prasidium). 

"Prasidium has a strong record of growth and will enhance our trade credit capabilities in Australia," said J. Patrick Gallagher, Jr. (pictured above), Gallagher’s CEO, in a media release. "I am very pleased to welcome the Prasidium team to our growing, global company."

The release said the trade credit insurance broker “has grown quickly to become a national specialty trade credit broker.”

Prasidium was founded in Sydney in 2015 and, according to the release, has a team of 17 staff.

The firm’s former website now diverts to Gallagher and says, “Starting from 22 April 2024, we will be operating under the Gallagher brand and entity.”

“This merger will further enhance Gallagher's expertise and reputation in the specialised area of trade credit insurance,” said the release.

Gallagher is part of Arthur J. Gallagher & Co., a US-headquartered insurance and risk management organisation with operations in more than 30 countries including Australia.

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