Lockton and First Equity Risk Management Services to Form South African Broker

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Oct 19, 2011, 02:16 ET

LONDON and JOHANNESBURG, Oct. 19, 2011 /PRNewswire/ -- Lockton Companies LLP and First Equity Risk Management Services (Pty) Ltd announce their intention to form a new South African joint venture company Lockton First Equity to provide commercial insurance brokerage services in South Africa. Terms of the agreement were not announced.

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The venture will service Lockton's retail insurance brokerage clients in South Africa. Lockton First Equity will also seek to combine Lockton's and First Equity's respective reputations and commercial capabilities to generate new business in South Africa. The joint venture company will be registered in South Africa and will have directors from both Lockton and First Equity on its board.

"First Equity Risk Management will be an outstanding partner with us in servicing our clients' accounts in South Africa and we very much look forward to growing the relationship between our two firms," said Julian James, CEO of Lockton's international operations.

"We are delighted to be recognised by the Lockton group in this manner," said Seamus Casserly, Founding Member of First Equity Risk Management Services. "We believe we have exciting growth opportunities for our mutual clients as we share our local risk management and insurance expertise."

First Equity Risk Management Services is a privately owned insurance broker with its head office in Johannesburg and other offices in Nelspruit and Durban. First Equity was founded in Johannesburg in 2006 and focuses on corporate and commercial insurance clients. More information on First Equity is found at www.firstequity.co.za

About Lockton

More than 4,100 professionals at Lockton provide more than 15,000 clients around the world with insurance, benefits, and risk management services, offering an uncommon level of client service. From its founding in 1966 in Kansas City, Missouri, Lockton has grown to become the largest privately held insurance broker in the world and 9th largest overall. Independent researcher Greenwich Associates awarded Lockton its 2011 Service Excellence Award for risk management for large companies. For three consecutive years, Business Insurance has recognized Lockton as a "Best Place to Work in Insurance." More information on Lockton is at www.lockton.com.

SOURCE Lockton