Lockton posts record revenue, continues expansion globally

Broker posts $1.57 billion in revenue for fiscal year

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Jun 28, 2018, 02:09 ET

KANSAS CITY, Mo., June 28, 2018 /PRNewswire/ -- Lockton, the world's largest privately held, independent insurance broker, posted record revenue of $1.57 billion in its recently completed fiscal 2018, a 9.9 percent increase above fiscal 2017. This is the 52^nd consecutive year of revenue growth for Lockton.

"Our teams around the world delivered great results for our clients and that is reflected in our financial results," said David Lockton, Lockton, Inc. executive chairman. "Our business has never been stronger, and we start this new fiscal year with tremendous momentum."

Lockton posted organic growth in the US of $84 million, 7.7 percent, with the employee benefits business leading the way with 14.1 percent year-over-year revenue growth. Lockton's international operations grew 10.9 percent, surpassing the £300 million mark for the first time.

"We continue to see opportunities for growth," said Ron Lockton, president and CEO. "But we see it not just as economic or revenue growth, but growth in the value we deliver for clients and professional growth for our Associates around the world."

Lockton earned several significant honors in the past year, including:

J.D. Power Award for highest performing large commercial broker.
Best Places to Work in Insurance for the ninth year from Business Insurance magazine and Best Companies Group.
America's Best Mid-Sized Employers award from Forbes for the third year.
Cyber brokerage firm of the year from Insurance Insider magazine in the UK.

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 business objectives.

SOURCE Lockton