Lockton has launched a new global reinsurance business, Lockton Global Re, with a leadership team of well-known executives from the insurance industry.
The new business will expand Lockton’s reinsurance capabilities and incorporate its specialty team based in London.
The company’s aim is to build a best-in-class global reinsurance practice that attracts the best global talent and develops top-level data analytics and technology platforms.
Lockton Global Re will be led by an elite leadership team made up of talent from across the industry, including three key hires from Marsh & McLennan Companies’ subsidiaries.
The leadership team includes 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, current managing director of Guy Carpenter.
Gardner joins with more than 20 years of (re)insurance industry experience with Marsh & McLennan Companies, including roles with its subsidiaries Guy Carpenter, Marsh Risk Management, and Marsh.
Yoder is an insurance and risk management veteran with more than 25 years of experience.
He has held multiple roles at Marsh, Guy Carpenter, and several insurance carriers.
Durant has over 20 years of experience in reinsurance analytics, and has previously led Marsh’s captive solutions business, and served as the company’s global analytics sales leader.
This new leadership team will incorporate with Lockton’s reinsurance capability, Lockton Re US and Lockton Re UK.
Ron Lockton, president and CEO of Lockton, said that by with the addition of the new leadership team, the company was “going all in on insurance”.
He added: “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.”
David Lockton, chairman of Lockton, commented: “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.”
Lockton International Holdings CEO Neil Nimmo said the three new hires “give the market clear direction on the quality of the operation we want to build and who we want to build it with”.
Nimmo also stated: “As a major global retail broker we always saw the opportunity in building complimentary talent in reinsurance to support our carrier partners.”
