Deal is a part of dealer’s plan to increase its presence in Brazil
Lockton, the world’s largest privately held insurance coverage dealer and consultancy, has introduced that it has acquired THB Brazil from Amwins. Phrases of the transaction weren’t disclosed.
Eduardo Lucena, CEO of THB Brazil, will assume the function of deputy CEO of Lockton Brazil upon completion of the deal. Different THB executives may also be becoming a member of the mixed firm’s administration group, Lockton mentioned.
“The Brazilian insurance coverage sector is predicted to develop in 2023 and past, and staying aggressive requires us to repeatedly adapt and innovate to fulfill our shoppers’ wants,” Lucena mentioned. “We’re excited to affix forces with Lockton and be part of its unbiased, client- and people-focused tradition.”
“We’re delighted to start a brand new period for Lockton in Brazil,” said José Otávio Sampaio, CEO of Lockton in Brazil. “As separate entities, Lockton and THB have each carried out exceptionally lately. Our mixed power will solely make us higher, enabling us to develop extra significant and long-term relationships with our shoppers, insurers and reinsurers, present improvement alternatives for our associates, and obtain our objective of doubling in dimension over the subsequent three years.”
The acquisition comes on the heels of different investments by Lockton aimed toward increasing its operations in Brazil. In recent times, the corporate has labored to draw expertise within the nation for its Threat Options, Individuals Options and reinsurance groups.
The addition of THB bolsters Lockton’s industrial group, expands its capability within the nation and opens new alternatives for gross sales and product improvement, the worldwide dealer mentioned.
Final month, Lockton introduced the appointment of Peter Chesterfield as senior vp of its International Actual Property & Development unit. The corporate additionally not too long ago tapped Nick Serrault as chief working officer for key places of work inside its Individuals Options enterprise.
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