Article / Risk Management
Service Culture Drives Half Century of Lockton’s Success

Jack Lockton, founder of Lockton Companies, always put the client first, even if it meant getting dozens of parking tickets as he rushed to meetings. That same purpose of service has grown the company to the billion dollar business it is today. 

Lockton has a 96 percent client retention rate and has grown by double digits nearly every year since 1966. In 2006, the firm acquired London-based Alexander Forbes International Risk Services, making it the largest independent, privately-owned global insurance broker.  

Lockton plans to continue expanding in the next decade and has hired 1,000 new associates in 2016 alone. Incoming COO and President of US operations Glenn Spencer, says growth is only possible with new talent that subscribes to the Lockton mantra of “We Live Service!”

“Whether we are recruiting on campuses or recruiting top talent from our competitors,” Spencer said, “there is a real sense of focus from our most senior people. … We invest a ton in professional development. We are looking at how we can restructure our benefits to be more appealing for young people.”

There are no lack of challenges as Lockton passes their half century mark and looks to expand in the next 50 years. Read more on how we started and where we are headed in Risk & Insurance’s article Family Pride

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