Lockton enters reinsurance business with well-known insurance executives

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Mar 07, 2019, 20:29 ET

KANSAS CITY, Mo., March 7, 2019 /PRNewswire/ -- Lockton, under the leadership of CEO Ron Lockton, has announced the formation of a new global reinsurance business, Lockton Global Re.

This investment in the US and across the globe will be led by an elite leadership team, including Tim Gardner, current CEO of North America Operations for Guy Carpenter, Claude Yoder, current managing director and global chief innovation and product development officer for Guy Carpenter, and Nick Durant, current Managing Director for Guy Carpenter. This new global business will be a major build out of Lockton's reinsurance capabilities and incorporate Lockton's internationally successful Specialty team based in London.

Reinsurance is a critical pillar of Lockton's aggressive growth plan. This premier reinsurance leadership team will build a best-in-class global reinsurance practice that fills a significant need in the industry, by attracting the best global talent and developing the best-in-class data analytics and technology platforms.

"By adding this outstanding, experienced and innovative leadership team, Lockton is going all in on reinsurance," said Ron Lockton, President and CEO of Lockton, Inc. "We are filling a void in the marketplace, building our platform the right way by focusing on value creation for our clients. With encouragement from our key trading partners who hunger for choice and innovation, we make this commitment to the reinsurance space."

Gardner has more than 20 years of reinsurance and insurance business experience with Marsh & McLennan Companies. He most recently served as CEO of North American Operations for Guy Carpenter. Before that, Gardner served as head of sales for the International Division at Marsh. Prior to that role, he was global leader of the Marsh risk management segment and before that, served as chief operating officer for Marsh's US and Canada Divisions. He also held several high-profile positions at Guy Carpenter including Global Sales Leader and Global Property Specialty leader.

Yoder brings more than 25 years of experience in primary insurance, underwriting, risk management, product development and research and development. He most recently served as managing director and global chief innovation and product development officer for Guy Carpenter. He previously served as head of Marsh Global Analytics, a global team that delivered solutions supporting Marsh's global insurance broking and consulting activities. Prior to joining Marsh in 2011, Yoder spent nearly 20 years in actuarial, underwriting and several roles for insurance carriers. He is a fellow of the Casualty Actuarial Society and a member of the American Academy of Actuaries.

Prior to rejoining Guy Carpenter in 2017, Durant led Marsh’s captive solutions business which provides advisory solutions and manages more than 1,250 captives worldwide. He brings 20 years of reinsurance experience to his new role.

"With this team we aim to build a best of breed reinsurance brokerage business, creating for our reinsurance clients the unique customer experience that we've always created for our existing clients," added David Lockton, Chairman of Lockton, Inc.

This new leadership team will incorporate with Lockton's reinsurance capability, Lockton Re US, LLC and Lockton Re UK, LLP.

New leadership for Lockton Global Re, will create new opportunities for the reinsurance team to be part of something much bigger with dedicated investment, new tools and technology. Lockton is a true platform to build a career in an environment of empowerment.

"As a major global retail broker, we always saw the opportunity in building complimentary talent in reinsurance to support our carrier partners," said Neil Nimmo, CEO, Lockton International Holdings Limited. "Our specialty London team has been a huge success, but we wanted to find the opportunity to go global. Lockton has always focused on building business around talented people, and these three key hires give the market clear direction on the quality of the operation we want to build and who we want to build it with."

About Lockton
Lockton is a global professional services firm with 7,000 Associates who advise clients on protecting their people, property and reputations. Lockton has grown to become the world's largest privately held, independent insurance broker by helping clients achieve their objectives. For ten consecutive years, Business Insurance magazine has recognized Lockton as a "Best Place to Work in Insurance."

SOURCE Lockton