Reinsurance News

Lockton posts record Q1 revenue growth

17th May 2022 - Author: Matt Sheehan

Insurance and reinsurance broker Lockton has posted record revenue growth of 27% over the period from Q1 2021 to Q1 of this year, most of which was organic revenue growth.

The company reported revenue of $2.69 billion for the first quarter of 2022.

“Our results are the outcome of being comprised of amazing people who are passionate about serving clients,” said Ron Lockton, Chairman.

“All credit belongs directly to them. I’m proud that our private ownership allows us to pursue a long-term strategy where our decision-making focuses on our clients, our people and our communities.”

CEO Peter Clune also commented: “We are posting significant organic growth numbers in a brokerage industry where growth is typically driven by mega mergers, large acquisitions and private equity roll-ups.”

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“Executing on a true organic growth strategy requires a different skillset where you’re attracting people and clients one handshake at a time,” Clune added. “We’ve experienced seismic momentum over the last 36 months, and after 56 years, we’re just getting started.”

Lockton announced a number of changes to its senior leadership team in April this year, as the broker looks to position itself for further growth going forward.

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