Chicago-based global insurance brokerage firm Arthur J. Gallagher & Co. has acquired the remaining 60 percent equity interest in Specialised Broking Associates Pty. Ltd, (SBA) headquartered in Perth, Western Australia. Terms of the transaction were not disclosed.
In October 2008, Gallagher acquired a 40 percent equity interest in SBA with the option to increase its ownership to 100 percent.
SBA provides risk management and commercial property/casualty insurance services to its Australian and international clients. SBA specializes in mining, energy, construction, and corporate industries.
Bill Grierson, executive chairman of SBA, and his associates will continue to operate from their current Perth location under the name SBA Gallagher. They will be a part of Arthur J. Gallagher Australasia Holdings Pty. Ltd (AJGA) led by Andrew Godden, a former principal of SBA who was recently appointed as AJGA’s CEO.
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