Lockton, one of the world’s largest private insurance brokers and advisors, recently announced the acquisition of THB Brazil from Amwins, one of the largest independent wholesale distributor of specialty insurance products in the US.
The combination of two leaders in the Brazilian insurance and personnel solutions market will enable scalability, profitable growth and access to an even richer set of innovative solutions for clients of both companies.
THB Brazil CEO Eduardo Lucena will take on new responsibilities as Deputy Managing Director of Lockton in Brazil following the completion of the transaction. Other THB executives will also join the management team of the combined company. Terms of the transaction were not disclosed.
“We are delighted to now begin a new era for Lockton in Brazil,” said Lockton Brazil Managing Director José Otávio Sampaio. “Both Lockton and THB have performed exceptionally well as separate entities in recent years. Combining our capabilities will take us even further and give us the opportunity to develop more meaningful and lasting relationships with our clients, insurers and reinsurers, provide development opportunities for our associates and achieve our goal of doubling our size in the next three years.”
The acquisition of THB follows other recent investments by Lockton aimed at expanding its activities in Brazil. In recent years, the brokerage has focused on attracting and retaining the best talent in the industry for its Risk Solutions, People Solutions and Reinsurance teams. The addition of THB will further strengthen Lockton’s sales team, expand its capabilities in Brazil and provide new opportunities for sales and product development.
“The Brazilian insurance sector is expected to grow in 2023 and beyond. Therefore, to remain competitive, we must constantly adapt and innovate to meet the needs of our clients,” said THB Brazil Managing Director Eduardo Lucena. “We are very pleased to join forces with Lockton and become part of its independent, client-focused culture and people.”
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