Combined Firm Will Seek Aggressive Growth In Brazil Through Independence And A Client-Centric Approach
SAO PAULO, May 5, 2023 /PRNewswire/ -- Lockton, the world's largest private insurance broker and consultancy, today announced the acquisition of THB Brasil from Amwins, the largest independent wholesale distributor of specialty insurance products in the US .us
The combination of two leaders in the Brazilian market for personal and insurance solutions will enable scalability and profitable growth, and access to an even richer set of innovative solutions for clients of both firms.
Eduardo Lucena, CEO of THB Brasil, will assume new responsibilities as Lockton's co-CEO in Brazil upon completion of the deal. Other THB executives will also join the management team of the combined company. Terms of the transaction were not disclosed.
"We are delighted to usher in 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, providing development opportunities for our Associates, and achieve our goal of doubling its size in the next three years."
The THB acquisition follows other recent investments by Lockton designed to expand its operations in Brazil. In recent years, the brokerage has focused on attracting and retaining the best talent in the industry in the country through its Risk Solutions, People Solutions and Reinsurance teams. Adding THB further strengthens Lockton's commercial team, expands its capacity in Brazil and presents new opportunities for sales and product development.
"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 Eduardo Lucena, CEO of THB Brasil. "We are excited to join forces with Lockton and be a part of their independent, customer-focused and people-focused culture."
What sets Lockton apart is also what makes us better: independence. Lockton's private ownership empowers its more than 9,500 associates doing business in more than 125 countries to focus solely on customer risk, insurance and people's needs. With experience that spans the globe, Lockton provides the in-depth understanding necessary to achieve extraordinary results.
For 14 consecutive years, Business Insurance magazine has recognized Lockton as a "Best Place to Work in Insurance." In 2022, Forbes named Lockton among America's Best Large Employers and one of the Best Employers for Diversity. For more information, visit www.lockton.com.
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