Lockton Re, the global reinsurance broking arm of the independent intermediary company, has this morning announced the launch of Lockton Re Capital Markets (LRCM), a dedicated specialist arm for capital markets and ILS activities.
Zachary Breslin will lead the new LRCM unit at the firm, having joined the company from his most recent position at Aon Securities earlier this year.
The Lockton Re Capital Markets (LRCM) hopes to offer a full-suite of capital agnostic services, including a broad range of execution abilities in insurance-linked securities (ILS).
The broker said that the new LRCM unit will “serve clients by accessing broader pools of capital, thereby providing complementary solutions to existing client offerings.”
Robert Bisset, Chairman Global Retrocession & Property Specialty, Bermuda & Market Capital, Lockton Re, explained, “This investment underscores our commitment to building a world class reinsurance business, capable of accessing all capital providers, across all product categories to service our clients.
“Pending regulatory approval, LRCM will be fully integrated into our broader reinsurance business, except as restricted by regulatory compliance. Our clients will see one client team. Our bankers and brokers will be solution agnostic as we are committed to our Fierce Independence ethos, which means we are focused on serving clients’ interests foremost.”
Zach Breslin, Leader, Lockton Re Capital Markets, added, “We are committed to product innovation as we deliver the most efficient forms of capital to fund our clients’ businesses. Being Born Digital and operating within the entrepreneurial culture that is Lockton Re, we will be able to leverage our technology driven approach and deep subject matter expertise to help our clients think creatively and move quickly in accessing capital to execute on their business plans throughout market cycles.
“Over the next 18 months, as we continue to add staff, pursue and obtain regulatory approvals and build infrastructure to deliver full execution capabilities for ILS and related products, we will be onboarding execution capabilities in certain products and geographies to assist our clients through the key 2023 renewal dates.”
Tim Gardner, Global CEO, Lockton Re, also said, “As we enter a very busy time of the year for the reinsurance market, I am delighted we are able to consistently deliver on our strategy and continue to build on the exceptional expertise and capabilities we have as part of our global platform. Zach and Bill Griffiths are great examples of the market leading talent that drives the collaborative focus of our culture. I am excited to be working with them both as we expand this exciting platform.”