Global insurance brokerage Arthur J. Gallagher & Co. has acquired NSW-based AgriRisk Services, which offers rural and farm insurance products and services to higher-value rural enterprises and large corporate agribusiness operations throughout Australia.

Terms of the transaction were not disclosed.

The deal will see AgriRisk’s John van der Vegt and his associates bring a range of crop risk management solutions to complement Gallagher's existing strengths in farm insurance. The firm’s North Sydney and Toowoomba teams will relocate to Gallagher's existing offices in those cities, while its Tamworth team will remain in its current location, reporting to Paul Harvey, managing director of specialisms for Gallagher in Australia.

“AgriRisk Services is a strong cultural fit with Gallagher and the team significantly expands our farm and agribusiness capabilities across Australia,” said J. Patrick Gallagher, Jr., chairman, president, and CEO. “I am delighted to welcome John and his associates to Gallagher.”