Gallagher has announced the acquisition of NSW-based specialist agribusiness broker AgriRisk Services.

CEO and President Patrick Gallagher says the new addition is a “strong cultural fit” and believes the AgriRisk team led by MD John van der Vegt “significantly expands our farm and agribusiness capabilities across Australia”.

"I am delighted to welcome [him] and his associates to Gallagher,” he said.

The US broking giant declined to reveal how much it paid but says the specialist broker will deepen its already strong presence in Australia, which is an important market for the business.

Gallagher offers a range of insurance solutions here including agriculture, construction, cyber, energy, financial lines, marine, mining, transport and workplace risk.

“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,” a Gallagher spokesman told insuranceNEWS.com.au today.

“It offers natural alignment with our regional branch network and clients. There is additional bench strength and specialisation in the farm, crop and agribusiness space where Gallagher already has a strong demonstrated track record.”

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

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

The AgriRisk brand will be retained and positioned as “a Gallagher company”, the spokesman told insuranceNEWS.com.au.