“We are committed to product innovation because we provide the most effective forms of capital to fund our clients’ businesses,” Breslin said. “Being ‘born digital’ and operating within the entrepreneurial culture that is Lockton Re, we will be able to leverage our technology-driven approach and deep subject matter expertise to help our clients think creative and quickly access capital to run their business. plans throughout market cycles.
“Over the next 18 months, as we continue to add staff, seek and obtain regulatory approvals, and build infrastructure to provide full execution capabilities for ILS (insurance-linked securities) and related products, we will embed execution capabilities in select products and geographies to help our customers through key 2023 renewal dates.”
Breslin came on board in May to support the construction of the new practice.
“This investment underscores our commitment to building a world-class reinsurance business, able to access all capital providers, across all product categories to serve our customers,” said Robert Bisset, Lockton Re’s president for global retrocession and real estate specialty, Bermuda and market capital. .
“Pending regulatory approval, LRCM will be fully integrated into our broader reinsurance business, except where limited by regulatory compliance. Our customers will see a customer team. Our bankers and brokers will be solution-agnostic, as we are committed to our “fierce independence” philosophy, which means that we focus on serving clients’ interests above all else.
For Lockton Re’s Global Managing Director, Tim Gardner, the establishment of LRCM signifies the group’s ability to “consistently deliver on our strategy and continue to leverage the exceptional expertise and capabilities we have at our disposal”. He also pointed to the upcoming “very busy time of the year” for the reinsurance market.