Lockton Launches Professional and Executive Risk for Financial Stream Transformation

Lockton's Strategic Move: Uniting Forces Under Professional and Executive Risk

In a significant strategic development, leading independent insurance brokerage Lockton has announced the integration of its teams in the United States into a singular entity known as Lockton Professional and Executive Risk. This move is positioned as a transformative step within the company's global financial services business, designed to enhance its value proposition in an increasingly complex risk landscape.

The consolidation unites over 750 skilled professionals from Lockton Financial Services (LFS) and International ProFin into one cohesive global team. By capitalizing on the diverse expertise of its members, Lockton aims to deepen its ability to create and deliver unparalleled value to its clients. This strategic approach is expected to unlock a new level of service, allowing Lockton to not only meet but exceed client expectations.

As the world becomes more interconnected, businesses are faced with multifaceted risks that require nuanced, comprehensive solutions. Devin Beresheim, Lockton’s Executive Vice President, emphasizes the necessity for clients to partner with an organization that takes a holistic view of risk. He states, “In today’s complex environment, companies and their boards need a trusted partner who understands their risks in a comprehensive manner.” Lockton Professional and Executive Risk is poised to fulfill this need by offering tailored solutions that help organizations mitigate pressing risks at a global scale, enabling them to focus on growth and sustainability.

The newly formed division boasts a comprehensive suite of offerings designed to protect clients across various sectors. Specializing in director and officer liability, cyber liability, general partnership liability, professional errors and omissions, and even crime liability, the team is equipped to guide businesses through the complexities of financial and professional insurance. Furthermore, the division's expertise extends to insurance solutions for digital assets, responding to the evolving landscape of risk in the digital economy.

Leo Flindall, Head of Professional and Executive Risks for Lockton UK, highlighted how this unified approach fosters improved sharing of insights, deeper risk analysis, and enhanced responsiveness to emerging threats. “The establishment of a unified team is another milestone for Lockton, reflecting our commitment to consistently elevate the standard of service for our clients,” he remarked, underlining the company’s dedication to client service excellence.

Lockton’s decade-spanning history is defined by its independence and focus on client-centric solutions. With over 12,500 employees operating across 140+ countries, the firm is uniquely positioned to provide industry-specific insight and product specialization tailored to the unique needs of its clients. This independence not only fuels Lockton's ability to customize client solutions but also ensures that they remain focused on addressing client risks effectively, without external pressures.

As businesses navigate the intricacies of modern risk management, having a partner like Lockton becomes invaluable. With the launch of the Professional and Executive Risk division, Lockton not only reaffirms its commitment to risk management but also paves the way for businesses to thrive amid uncertainty. As the company continues to innovate and streamline its services, clients can expect improved risk assessment capacity and a broadened service offering, reflecting the dynamic nature of today's business environment. These advancements position Lockton at the forefront of insurance brokerage, equipped to tackle the challenges of tomorrow’s risk landscape.

With this strategic realignment, Lockton redefines what it means to be a trusted partner in risk management, ensuring that clients are empowered to navigate their professional risks with confidence and agility.