Lockton expands with Solo acquisition
20 January 2017 - Lockton Companies International Ltd (LCIL) has acquired Solo Insurance Services Limited (Solo), a boutique specialist real estate insurance broker based in London. The experienced Solo team will integrate into the established Lockton Real Estate and Construction (REAC) team in their London offices. REAC benefits from a team of 90 experienced specialists who are delighted to welcome Solo’s valued clients. Lockton’s strong reputation for maintaining rigorous and consistent client service standards has strong synergies with the Solo team. Uniting these businesses will continue to progress a leading global, real estate, construction and engineering practice.
Richard Owen, Partner and Lockton Companies LLP Board member, said: “This acquisition will help us to grow our industry-leading real estate, construction and engineering practice. Solo have built an excellent business and we are delighted to welcome new clients and the Solo team to our trusted partnership.
“Our new clients will importantly continue to benefit from their existing service team, also strengthened by access to our wider team, with strong expertise delivered from our global reach of offices. We want to make sure our clients benefit from the very best risk guidance and insurance intelligence. This combined platform will enable us to deliver that, whilst also creating opportunity to further explore new product lines and build on our joint successes for the benefit of our clients and their businesses.
“For these reasons, this announcement is great news for our clients and collective associates and brings strong, long term ownership from which to grow. We will continue to place our clients at the core of everything we do.”
Judith Cooper, CEO of Solo, said: “We consider Lockton a natural fit for Solo, its clients and associates, as we have many core values in common. As market dynamics advance I am confident of Lockton’s ability to drive the highest degree of client focus and insurance product innovation, for existing and future clients.
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About Lockton More than 6,000 professionals at Lockton provide 50,000 clients around the world with risk management, insurance, employee benefits consulting, and retirement services that improve their businesses. From its founding in 1966 in Kansas City, Missouri, Lockton has attracted entrepreneurial professionals who have driven its growth to become the largest privately held, independent insurance broker in the world and 9th largest overall. For eight consecutive years, Business Insurance magazine has recognized Lockton as a "Best Place to Work in Insurance." To see the latest insights from Lockton's experts, check Lockton Market Update.
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