Gallagher has acquired Brisbane-based Southbank Insurance Brokers as it continues to expand in Queensland.

Founded by Brett Zegenhagen in 1991 as Austsure Insurance Brokers, the business was sold to Elders Insurance in 2002 before being bought back by Mr Zegenhagen in 2010 and taking on the Southbank trading name.

It will now trade under the Gallagher brand, and the Southbank team has relocated to the Gallagher office in Brisbane. Current policies and customers will not be affected by the merger.

Gallagher MD Specialisms Paul Harvey says Southbank’s client portfolio is diverse, covering construction, transport, manufacturing and property sectors.

“Attracting high quality merger partners such as Southbank is a cornerstone of our broader growth strategy and commitment to providing strategic advice to clients in Australia’s rural and metro business centres,” he said.

“We’ve developed a strong track record over the past five years of bringing deep capability and specialist expertise into Gallagher via regional brokerages who offer a strong cultural fit with our business.”

insuranceNEWS.com.au reported last month that Gallagher had acquired Queensland’s CA Insurance Brokers.