Page 10 - October 2022 Issue 611 Part 2

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Lockton Re focusing on the quality of growth rather than revenues

Lockton Re declared during Monte Carlo Rendez-Vous that it is well ahead in its growth
plans and is now able to be more selective in terms of hires and clients it wants to
work with.

Tim Gardner, Lockton Re’s global CEO, said that they have accelerated dramatically

through hiring and they have largely filled all the segments they hope to be in, stating that

the company’s strategy to onboarding talent is now focused on creating great assets and

not just filling a spot, noting that Lockton Re wants to focus on the quality of growth rather

than just the revenues, assuring that they are proud of the quality of their clients.

Keith Harrison, CEO of International, said that they are well ahead of their plans in

terms of their growth in every facet such as headcount, capability, client count, revenue,

and return on investment.

Bob Bisset, Chairman of global retrocession, added that they very much think of things glob-

ally rather than regionally, proclaiming that their strategy is to target global companies and then

drive the capability and the specialties regionally. “We’ve deliberately set up the Lloyd’s oper-

ations to target the main reinsurance buying hubs”, stating that they have operations in the US,

Bermuda, and London, and have opened an office in Zurich. L TO R: ROSS HOWARD, BOB BISSET, KEITH HARRISON
Gardner said that the reinsurance industry is bracing itself for a challenging renewal season amid AND TIM GARDNER
a capacity crunch in some lines. “We felt this theme in June, July, and that momentum is proba-

bly only gaining traction as we move to 1/1”, noting that they are preparing clients for what he

thinks is going to be a pretty challenging market, and that they certainly anticipate rates moving but they don’t expect it to be carnage. “We’ve heard some numbers thrown around

about a massive gap between supply and demand. We don’t necessarily see it. We’ll know once the dust settles exactly how much of this is rhetoric and how much reality”.

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