Gallagher has acquired specialist agribusiness broker AgriRisk Services, strengthening the US broking giant’s rural product offerings and expertise.

The deal was completed last week but Gallagher declined to reveal the value when contacted by insuranceNEWS.com.au.

A spokesman says NSW-based AgriRisk “offers natural alignment” to Gallagher’s regional branch network and clients.

“AgriRisk brings more than 25 years’ specialist experience in the agricultural sector, with a large and diverse portfolio of crop (broadacre, cotton, horticulture and viticulture), forestry and livestock insurance clients,” the spokesman told insuranceNEWS.com.au.

“There is additional bench strength and specialisation in the farm, crop and agribusiness space where Gallagher already has a strong, demonstrated track record.”

He says the acquisition “builds out Gallagher’s specialty offering that includes specialist food production, and transport and logistics, creating an end-to-end offering for commercial growers that enables them to receive a ‘whole of risk’ perspective”.

The AgriRisk brand will be retained and positioned as “a Gallagher company”.

AgriRisk teams in North Sydney and Toowoomba will relocate to Gallagher’s offices in the same cities, while the Tamworth team will stay in its present location and report to MD Specialisms Paul Harvey.

Gallagher CEO and President Patrick Gallagher says the AgriRisk team, led by MD John van der Vegt, “significantly expands our farm and agribusiness capabilities across Australia”.