Article / Risk Management
The Time is Ripe for Lockton Re

As large reinsurers grapple with mergers and cutting costs through rationalizing their reinsurance programs, smaller reinsurance brokers have a real opportunity to offer clients something different.  Mark Waterkeyn, a partner at Lockton Re, says that for the brokers who have the right experts and who truly understand the risk, the time is ripe to attract clients.

“It allows us to be creative,” Waterkeyn says. “We cannot ignore the macro dynamics of the industry but whether that means it is a good time to be a broker depends on who you ask. If you are independent and very focused on a client’s real needs, the competition between reinsurers also means that some very interesting solutions can be devised.”

Lockton Re has gained their reputation in the market for managing long-tail, niche specialist lines that are more complex and nuanced. While Lockton is the ninth largest broker in the world with 1.34 billion in revenue in 2016, they are not hindered with the constant drive for growth that defines so many brokers in the market.

“We have a very flat internal structure with experts in their fields but everything we do is focused on achieving the best outcome for clients,” said Mark Finch, Lockton Re international business development executive.

Finch adds that long-tail and specialty business is not immune to rate decreases and price pressure, but it also offers the opportunity to develop innovative solutions for clients.

To learn more, find the article online.

    
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