Arthur J. Gallagher & Co., the Itasca-based insurance brokerage, said it acquired the 60 percent equity interest in Australia’s Specialised Broking Associates Pty Ltd. it didn’t already own.
Terms weren’t disclosed.
In October 2008, Gallagher acquired a 40 percent equity stake in SBA with the option to increase its ownership to 100 percent.
SBA, based in Perth, provides risk management and commercial property and casualty insurance services in Australia.
The newly acquired compay will operate under the name SBA Gallagher and will be part of Arthur J. Gallagher Australasia Holdings Pty Ltd. led by Andrew Godden, a former principal of SBA.
