Lockton Revolutionizes Global Financial Lines Business with Unified Executive Risk Practice

Lockton's Strategic Transformation in Financial Services

In a significant strategic move, Lockton, the world’s largest privately-owned insurance brokerage, has announced the integration of its U.S. financial services teams — Lockton Financial Services (LFS) and International ProFin — into a single global entity known as Lockton Professional and Executive Risk. This transformation is aimed at enhancing Lockton’s ability to serve clients by providing a comprehensive range of risk management solutions on a global scale.

This consolidation brings together over 750 experienced professionals from various backgrounds and expertise, focusing on delivering exceptional value and innovative solutions tailored to meet the unique risks faced by clients in today’s interconnected environment. Devin Beresheim, Executive Vice President and head of Lockton Professional and Executive Risk in the U.S., emphasized the necessity for businesses and boards to have a trusted partner that takes a holistic view of their risks, stating, "Today’s companies operate in an increasingly complex landscape, and they need tailored solutions to navigate their most pressing risks."

Lockton Professional and Executive Risk will support organizations by providing comprehensive management of professional, executive, financial, and cyber risks, regardless of their geographical location. The new practice aims not only to maintain but to extend Lockton’s reputation for going beyond traditional insurance offerings, delivering enhanced risk management through a truly global perspective.

Leo Flindall, head of the Lockton Professional and Executive Risk in the UK, shared insights into the added value of this unified team. "With increased global connectivity, we can facilitate a broader exchange of knowledge and a deeper understanding of risks, allowing us to anticipate emerging threats more effectively and precisely. This launch marks another milestone for Lockton as we strive to continuously improve our service standards for clients."

The new entity will serve a diverse array of industries, offering global insurance brokerage services, risk assessment, and claims assistance, specifically focusing on critical insurance lines such as director and officer liability, cyber risk, general corporate liability, errors and omissions/professional indemnity, employment practices liability, fidelity/crime, fiduciary liability, and solutions for digital asset insurance.

Lockton prides itself on its independence; the private ownership of the firm empowers over 12,500 associates in more than 140 countries to prioritize clients' needs in risk management and insurance without external pressures. The company’s extensive industry knowledge and product expertise are complemented by a commitment to serve clients with passion and dedication.

As Lockton embarks on this transformation journey, the firm continues to solidify its position as a trusted global leader in risk management, reinforcing its promise to bring significant value to its clients through innovative and personalized insurance solutions.

With the establishment of Lockton Professional and Executive Risk, clients can expect an elevated level of service and strategic insight that is crucial for navigating their present and future challenges in the business landscape.