Lockton doubles in year to April 2016

Lockton doubles in year to April 2016

Lockton, the Glasgow-headquartered corporate insurance broker established in 2014, has doubled its turnover in the year to April 2016 and now controls premiums in excess of £10m.

Gordon Duncan, partner and head of corporate for Lockton, said: “The uplift in our results can be attributed almost entirely to our winning new clients, a number of which are high-profile Scottish companies which previously had long-term relationships with several of our competitors.”

Paula Ross, group legal manager of Redefine BDL Hotels, the UK’s largest hotel management company, said: “We appointed Lockton in 2015 and knew that we had a Partner to support our business long-term.

“We would have no hesitation in recommending Lockton to any business considering a change.”

Head count at Lockton Glasgow has risen by 40 per cent from 10 to 14 and further growth in numbers is anticipated in the current year as further new business wins are on the horizon.

Lockton’s Glasgow operation complements the company’s established Financial Lines business in Edinburgh which is led by Lorraine Boyle.

Its corporate risk business in Scotland works with clients in most sectors of the economy, pro-actively designing and implementing bespoke insurance and risk management solutions to protect their balance sheets and help them to become more successful.

Duncan said: “I am pleased also that our rate of client retention in the year was 98 per cent. Current indications are that 2016-2017 will be another record year for Lockton’s Scotland business.

“Our unique client-focused proposition is helping us to carve out an increasingly sizeable market share and we intend to continue to play to our strengths.”