The deal is part of the broker’s plan to expand its presence in Brazil
Mergers and Acquisitions
By Ryan Smith
Lockton, the largest privately held insurance broker and consultancy, announced that it has acquired THB Brazil from Amwins. Terms of the transaction were not disclosed.
Eduardo Lucena, CEO of THB Brazil, will assume the role of deputy CEO of Lockton Brazil after the deal. Other THB executives will also join the combined company’s management team, Lockton said.
“Brazil’s insurance sector is expected to grow in 2023 and beyond, and staying competitive requires us to continue to adapt and innovate to meet the needs of our clients,” said Lucena. “We are excited to join forces with Lockton and be part of its independent, client- and people-focused culture.”
“We are happy 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 well in recent years. Our combined strengths will only make us better, enabling us to develop more meaningful and long-term relationships with to our clients, insurers and reinsurers, providing development opportunities for our partners, and achieving our goal of doubling in size in the next three years.
The acquisition comes on the heels of other Lockton investments aimed at expanding its operations in Brazil. In recent years, the company has worked to attract talent to the country for its Risk Solutions, People Solutions and reinsurance teams.
The addition of THB strengthens Lockton’s commercial team, expands its capacity in the country and opens up new opportunities for marketing 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 tapped Nick Serrault as chief operating officer for key offices within the People Solutions business.
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