Global broker Gallagher says Prasidium Credit Insurance has joined the business, enhancing its trade credit cover expertise in the Australian market.

Prasidium, a specialist trade credit broker founded in 2015 in Sydney, started operating under the Gallagher brand yesterday following the merger.

The Prasidium staff, led by Mark Smith, Stuart Prendergast, Mark Browning and Paul Daniele, will join Gallagher’s teams across Australia.

“Prasidium has a strong record of growth and will enhance our trade credit capabilities in Australia,” Gallagher Chairman and CEO J. Patrick Gallagher Jr said.

“I am very pleased to welcome the Prasidium team to our growing, global company.”

Gallagher has acquired many Australian brokerages in recent years and generally does not reveal the value of the investments.

Its first acquisition this year was Perth mining specialist Ansin Insurance Brokers.