Monday, February 11, 2013

Lockton acquires Australian broker

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8 February 2013 |By Newsdesk

Former Marsh broker to head up Melbourne operations

Lockton has acquired Australian broker Strategic Insurance & Risk Solutions.

Colin Smith owns the firm.

Lockton’s insurance and risk management team in Melbourne will serve corporate clients based in Australia and global clients with operations in the country. The new Melbourne team will complement Lockton’s existing corporate insurance client service team in Perth and Sydney.

In addition to the Strategic team, Lockton has appointed Paul Bradley, the former corporate Victorian state manager for international broker Marsh, as executive manager in its Melbourne operation.

Lockton Australia chief executive Adam Rhodes said the acquisition of Strategic and the recruitment of Bradley were a coup for Lockton Australia given their experience and client base.

“Colin has built an outstanding risk and insurance business, which adds to Lockton Australia, not just geographically, but in sheer terms of knowledge and experience,” said Rhodes. “Paul Bradley will also provide an enormous advantage to the business having held very senior roles in the insurance industry in Melbourne for more than 20 years.”

Smith said: “This is a fantastic opportunity for my clients, staff and me. We are joining a broking company that provides all of the advantages of a major international firm with the agility and cohesiveness of a locally owned and managed company.”

Strategic will start trading as Lockton immediately from its offices in South Yarra.

Terms of the agreement were not disclosed.

5 February 2013

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Title Post: Lockton acquires Australian broker
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