Lockton has announced the acquisition of THB Brazil from Amwins as the insurance broker continues to expand its footprint across Latin America; terms of the transaction were not disclosed.
Upon completion of the deal, Eduardo Lucena, chief executive officer of THB Brazil, will assume new responsibilities as Deputy chief executive officer of Lockton in the South American country.
Other THB executives will also join the combined company’s management team.
José Otávio Sampaio, chief executive officer of Lockton in Brazil, commented: “We’re delighted to begin a new era for Lockton in Brazil. As separate entities, Lockton and THB have both performed exceptionally in recent years.
“Our combined strength will only make us better, enabling us to develop more meaningful and long-term relationships with our clients, insurers and reinsurers, provide development opportunities for our Associates, and achieve our goal of doubling in size over the next three years.”
The acquisition of THB follows other recent investments by Lockton designed to expand its Brazilian operations.
This acquisition, the company highlighted, further strengthens Lockton’s commercial team, expands its capacity in Brazil and presents new opportunities for sales and product development.
“The Brazilian insurance sector is expected to grow in 2023 and beyond and staying competitive requires us to continually adapt and innovate to meet our clients’ needs,” said Eduardo Lucena, chief executive officer of THB Brazil. “We’re excited to join forces with Lockton and be a part of its independent, client- and people-focused culture.”
Lockton has also recently announced a number of promotions and hires to further drive innovation and growth.
These include the appointment of Simon Jesson as Business Development Manager to Lockton’s Manchester-based Commercial Wholesale team. Peter Chesterfield was named Senior Vice President for the company’s Global Real Estate & Construction (GREAC) team.
Promoted to global positions were Troy Cook, as Chief Financial Officer; Julie Gibson, as Chief Marketing Officer; Trey Humphrey, as Chief Legal Officer; Martyn Worsley as Chief People Officer; and Byron Clymer, as Chief Information Officer.
