Lockton Unveils New Professional and Executive Risk Division to Transform Global Financial Risk Services

Lockton Launches Professional and Executive Risk Division

Lockton, the world's largest independent insurance brokerage, has recently announced its strategic merger of the Lockton Financial Services (LFS) and International ProFin teams into a single, cohesive entity known as Lockton Professional and Executive Risk. This significant development marks a transformative step in Lockton's international operations within the financial risk insurance sector.

The creation of this unified division draws together the knowledge and experience of over 750 talented professionals from across the globe. By harnessing their expertise, Lockton is poised to offer enhanced, value-driven solutions tailored to their clients' needs. The new structure enables Lockton to continue excelling in its core mission: providing clients with access to a global pool of expertise in insurance and risk management beyond traditional insurance services.

David Beresheim, Executive Vice President and Director of Professional and Executive Risk at Lockton USA, highlighted the complexity of the modern environment, creating interconnected challenges for companies and their management teams. He emphasized the need for a reliable partner who can approach their risk comprehensively. Lockton Professional and Executive Risk aims to deliver customized solutions that assist board members and executives in proactively addressing key risk factors globally, allowing them to focus on business growth.

Leo Flindall, Director of the UK branch of Professional and Executive Risk, elaborated on the benefits of having a global team. This structure not only enhances knowledge transfer and risk data but also improves the capacity to predict and respond to emerging threats with greater precision and immediacy. The union of these teams is seen as a milestone for Lockton, underlining their commitment to continuously elevate client service standards.

The Lockton Professional and Executive Risk division will cater to a diverse range of industries, offering brokerage services, risk advisory, and claims support across major segments of professional and financial risk insurance. Their specializations include directors’ and officers’ liability insurance, cybersecurity risks, partners’ liability in partnerships, errors and omissions/professional liability, workplace regulatory compliance, fiduciary liability, and insurance solutions for digital assets.

One of Lockton’s distinct advantages lies in its independence, which serves as a significant competitive edge. The privately held structure of Lockton allows its 12,600 associates to operate in over 140 countries, focusing solely on meeting client needs in risk, insurance, and employee benefits. With access to specialists worldwide, Lockton possesses extensive industry knowledge supported by a commitment to fulfilling clients' needs with passion.

In conclusion, the establishment of Lockton Professional and Executive Risk represents a monumental step in enhancing the company's ability to serve clients effectively in an increasingly complex risk landscape. By merging expertise and resources, Lockton aims to provide proactive and tailored risk management solutions that directly support businesses in navigating risks while fostering their development and success in the global marketplace.