Lockton buys in Brazil | Insurance business America

The deal is part of the broker’s plan to expand its presence in Brazil

Fusions and acquisitions

By Ryan Smith

Lockton, the world’s largest private insurance broker and consultancy, announced that it has acquired THB Brasil from Amwins. Terms of the transaction were not disclosed.

Eduardo Lucena, CEO of THB Brasil, will take over as Lockton Brasil’s deputy CEO once the deal is completed. Other 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, and staying competitive requires us to continually adapt and innovate to meet the needs of our clients,” said Lucena. “We are excited to join forces with Lockton and be a part of their independent, customer-focused and people-focused culture.”

“We are delighted to begin a new era for Lockton in Brazil,” said José Otávio Sampaio, CEO of Lockton in Brazil. “As separate entities, Lockton and THB have performed exceptionally well in recent years. Our combined strength will only make us better, allowing us to develop more meaningful and long-term relationships with our clients, insurers and reinsurers, provide development opportunities for our associates, and achieve our goal of doubling our 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 in the country for its Risk Solutions, People Solutions and reinsurance teams.

THB’s addition strengthens Lockton’s commercial team, expands its in-country capacity 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 COO for key offices within its People Solutions business.

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