Re/insurance broker Lockton has moved to form a new global reinsurance business, Lockton Global Re.
Lockton has stated that reinsurance is a critical pillar of its aggressive growth plan and this new business will, under the leadership of the firm’s Chief Executive Officer Ron Lockton, look to build out its current capabilities and incorporate an internationally successful Specialty team in London.
Lockton Global Re’s leadership team is also slated to include Tim Gardner, current CEO of North America Operations for Guy Carpenter; Claude Yoder, current Managing Director and Global Chief Innovation and Product Development Officer for Guy Carpenter; and Nick Durant, currently a Managing Director for Guy Carpenter.
“By adding this outstanding, experienced and innovative leadership team, Lockton is going all in on reinsurance,” said Lockton.
“We are filling a void in the marketplace, building our platform the right way by focusing on value creation for our clients. With encouragement from our key trading partners who hunger for choice and innovation, we make this commitment to the reinsurance space.”
By developing best-in-class data analytics and technology platforms, Lockton Global Re hopes to attract the best global talent and fill a “significant need” in the industry.
This new leadership team will incorporate with Lockton’s reinsurance capability, Lockton Re US, LLC and Lockton Re UK, LLP.
“With this team we aim to build a best of breed reinsurance brokerage business, creating for our reinsurance clients the unique customer experience that we’ve always created for our existing clients,” said David Lockton, Chairman of Lockton.
Neil Nimmo, CEO, Lockton International Holdings, added, “As a major global retail broker, we always saw the opportunity in building complimentary talent in reinsurance to support our carrier partners.”
“Our specialty London team has been a huge success, but we wanted to find the opportunity to go global. Lockton has always focused on building business around talented people, and these three key hires give the market clear direction on the quality of the operation we want to build and who we want to build it with.”