Lockton takes stake in Aussie broker

Lockton has acquired a key shareholding in Australian intermediary, Australian Reliance.

Australian Reliance will now have access to global insurance markets through the Lockton International teams in London, Singapore, Dubai and Bermuda.

It is claimed to be one of Australia’s fastest growing privately held insurance brokers. Its headquarters are in Perth, Western Australia with additional offices in Sydney and Melbourne.

“This investment formalises a relationship which has developed during the past several years,” said Tim Higgins, executive vice president of Lockton Companies.

“There is so much we share in terms of values, culture and business models, and we see this relationship as a natural fit with our commitment to provide superior results to our clients everywhere in the world.”

Australian Reliance chief executive Andrew Donnelly said: “Our approach is simple: better people, better solutions, better service. This agreement with Lockton ensures that our clients continue to achieve unparalleled solutions from the industry’s leading insurance professionals.”

Paul Jack, executive chairman - global risks of Lockton said: “The relationship provides Australian Reliance’s client base with access to the best global insurance solutions.”