Lockton Achieves Significant Growth with $4.5 Billion in Revenue for FY 2026

Lockton Reports Revenues of $4.5 Billion in FY 2026

Lockton, the largest private independent insurance brokerage globally, recently announced its impressive financial results for the fiscal year 2026. The company saw a year-over-year revenue increase of 12%, totaling approximately $4.5 billion. Organic growth reached 11%, showcasing Lockton's consistent momentum and relentless investment in talent, technology, and global capabilities.

This marks the sixth consecutive year of double-digit organic growth for Lockton, a testament to the strength of its client relationships, diversified business model, and long-term investment strategy. Ron Lockton, CEO and Chairman, stated, "FY 2026 was another remarkable year for Lockton. Our results reflect the trust clients place in us, the quality of our people, and the advantages of our private, independent model. Our structure allows us to invest for the long term, quickly adapt to clients' and market needs, and continuously reinvest in capabilities, insights, and innovations that help clients navigate a complex risk environment."

Resilient Performance in a Challenging Market

Lockton's performance was particularly strong given the market conditions in FY 2026, which ended on April 30. Global property insurance rates decreased amid improved capacity and heightened competition. In the U.S., pricing pressures and rising loss costs continued to challenge the market. Nevertheless, Lockton’s diversified platform achieved balanced growth across regions and sectors. Lockton International and Lockton Re each experienced approximately 15% growth.

In the U.S., the company achieved double-digit growth for the eighth consecutive year, despite uneven conditions across regions and product lines. Revenues in the U.S. approached $3 billion, marking an 11% increase year-over-year. This success was supported by the firm's ability to retain clients and ongoing growth across key business areas. Lockton’s reliance on one of the industry's strongest production teams and highly collaborative service teams resulted in a 94% revenue client retention rate.

Notably, the U.S. division of Lockton underpinned its platform by expanding industry verticals and specialized practices in risk and people solutions. For the first time, revenues from People Solutions exceeded $1 billion, driven by sustained demand for integrated benefits, employee care, and consulting services. These investments unify expertise and improve consistency while providing advanced capabilities to clients across markets.

Key International Highlights

Lockton's international operations also showed strong results and continued to build momentum in critical markets. Despite uneven conditions globally, the company recorded 15% growth, aided in part by a 27% rise in People Solutions and further strengthening of retail and specialty lines. Throughout the year, Lockton enhanced its international platform by expanding operations in Switzerland, Saudi Arabia, and Italy, while also investing in its operational model, leadership, and client service teams across Europe, Latin America, the Middle East, Asia, and the Pacific. These initiatives reflect a deliberate strategy to become closer to clients, operate with greater local relevance, and provide integrated expertise across borders amid increasingly interconnected global risks.

Lockton Re

Lockton Re, the company’s global reinsurance business, continued its impressive trajectory, achieving significant growth bolstered by expanding client relationships, geographical expansion, and targeted investments in people, leadership, and capabilities. The business benefitted from increasing demand for sophisticated consulting support as insurers faced evolving market dynamics, capital constraints, and portfolio optimization challenges. Lockton Re continued to build its capabilities in capital markets and capital advisory, enhancing global portfolio solutions and investing in offerings related to cyber and credit risks. These investments position Lockton Re as a long-term partner for its clients in a changing reinsurance and capital market landscape.

Technology, AI, and Innovation

In the past year, Lockton made substantial investments in data, analytics, and artificial intelligence to enhance client services, improve understanding, and empower colleagues across its global platform. These efforts are central to the company’s strategy, aiming to lead with advisory expertise while reducing friction points and increasing the consistency of client servicing. At the heart of these developments is Lockton SAGE, the proprietary AI-enabled technology ecosystem designed to integrate data, analytics, and expertise, delivering smarter insights, faster decision-making, and greater assurance in critical business decisions. A broader rollout of the platform is set to commence in FY 2027, with further investments planned in digital, analytics, and data capabilities.

Ron Lockton commented, "Artificial intelligence will transform every aspect of risk and insurance. We view AI as an accelerator of human expertise, not a replacement. Our focus is on utilizing technology to enhance judgement, insights, and the value we provide to clients."

Culture and Talent

Lockton's results continue to leverage its unique culture and its people. Employing nearly 15,000 colleagues worldwide, the firm is consistently recognized as a desirable employer. In FY 2026, Lockton received numerous workplace and industry awards globally, including Best Places to Work in Insurance from Business Insurance, Employees' Choice Awards from Glassdoor, U.S. Best Managed Companies from Deloitte Private and The Wall Street Journal, and Axco Global Broker of the Year.

About Lockton

Lockton's most defining and beneficial characteristic is its independence. As a privately owned entity, its 15,000 associates operating in more than 160 countries can focus exclusively on clients’ risk and insurance needs. Its expertise and global experience enable it to understand clients profoundly and achieve remarkable outcomes. For further information, please visit www.lockton.com.