Global insurance brokerage Arthur J Gallagher & Co has acquired Melbourne, Victoria-based Health Insurance Consultants Australia (HICA).
Terms of the transaction were not disclosed.
HICA is a specialist health insurance consultancy and brokerage firm serving corporate clients, small and medium-sized businesses, professional groups and associations in Australia for more than 30 years.
Illinois-based Arthur J. Gallagher & Co offers its services in about 130 countries around the world through its own operations and a network of correspondent brokers and consultants.
HICA founder Suzanne Still, Jethro Still and their team will remain in their current location under the direction of Graham Campbell, head of Gallagher’s employee benefits and HR consulting operations in Australia.
Among several acquisitions this year, Arthur J Gallagher acquired two other health related insurance brokers – US broker the Rowley Agency and Canada-based medical reinsurer MGB Re (MGB).
Patrick Gallagher Jr, chairman and CEO of Arthur J Gallagher, said: “HICA has a strong record of growth and will enhance our benefits consulting capabilities in Australia.
“I am very pleased to welcome Suzanne, Jethro and their associates to our growing, global team.”