Lockton buys in Brazil | Insurance Business America
The deal is part of the broker’s plan to expand its presence in Brazil
Mergers & Acquisitions
By Ryan Smith
Lockton, the world’s largest private insurance brokerage and consulting firm, announced that it has acquired THB Brazil from Amwins. The terms of the transaction were not disclosed.
Eduardo Lucena, CEO of THB Brazil, will assume the role of Deputy CEO of Lockton Brazil upon closing of the transaction. Additional THB executives will also join the combined company’s management team, Lockton said.
“The Brazilian insurance sector is expected to grow in 2023 and beyond. To remain competitive, we must continually adapt and innovate to meet the needs of our customers,” said Lucena. “We are delighted to be working with Lockton and to be part of their independent, customer and people-centric culture.”
“We are excited to start a new era for Lockton in Brazil,” said José Otávio Sampaio, CEO of Lockton in Brazil. “As separate entities, Lockton and THB have both performed exceptionally over the past several years. Our combined strength will only make us better, enabling us to build more meaningful and lasting relationships with our clients, insurers and reinsurers, provide development opportunities for our people and meet our goal of doubling our size in the next three years.”
The acquisition follows other investments by Lockton aimed at expanding its operations in Brazil. In recent years, the firm has worked to attract in-country talent to its Risk Solutions, People Solutions and Reinsurance teams.
The addition of THB strengthens Lockton’s sales team, expands its capacity in the country and opens up new opportunities for sales and product development, the global broker said.
Last month, Lockton announced the appointment of Peter Chesterfield as Senior Vice President of its Global Real Estate & Construction unit. The company also recently appointed Nick Serrault as Chief Operating Officer for key offices in its People Solutions business.
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