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Arthur J Gallagher buys Queensland brokerage

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Arthur J Gallagher has bought regional broker Parmia Insurance. understands more announcements will follow shortly as Gallagher pursues rapid expansion in Australia and New Zealand.

Parmia specialises in cover for professional associations and industry groups, with more than 15 on its books.

It was named small broker of the year at last month’s Australian Insurance Industry Awards, and director Danny Gumm was last year’s National Insurance Brokers Association broker of the year. 

Mr Gumm will stay with the company he founded in 2007.

Arthur J Gallagher acquired Wesfarmers’ broking business in June and says it wants to buy more brokerages.

Australasia CEO Andrew Godden says “cultural alignment” is a key component when the company considers potential acquisitions.

“Everyone who’s met Danny and his team will attest their values are aligned with ours – looking after clients and each other honestly and transparently,” he said.