Lockton Expands into India’s Reinsurance Sector

Lockton, a prominent US-based insurance broker, is set to expand into the reinsurance sector in India, with plans underway for a fiscal year entry. Since launching its Indian operations on January 1, 2025, Lockton has quickly established a significant footprint in the region.

Sandeep Dadia, CEO & Country Head of Lockton India, highlighted the establishment of a robust foundation, with nine branches across major cities including Mumbai, Delhi, Kolkata, Bangalore, and Chennai. Lockton serves over 1,000 clients across diverse sectors, supported by a workforce of 241 associates that is expected to grow to about 380. The company's strategic focus on technology-driven solutions sets them apart in addressing specialized risk advisory needs.

Lockton's reinsurance offerings will include property and marine lines, addressing risks such as cargo, hull, and war, alongside cruise lines and P&I insurance. Additionally, they plan to manage complex risks in industries like construction, oil, and energy with comprehensive coverage solutions. The expansion will also see Lockton extend reinsurance services to health and life insurance, collaborating with insurers to enhance capacity and risk management capabilities.

With a recognized position in the global reinsurance market, Lockton ranks as a top 10 treaty broker and manages significant facultative reinsurance worldwide. Dadia noted that their international strategy leverages analytics, geotagging, and risk assessment for informed expansion into India. Lockton aims to develop sufficient capacity for treaty reinsurance, ensuring meaningful contributions to clients' portfolios.

Looking ahead, Lockton anticipates robust growth through 2027, leveraging its expertise and the rising demand for customized brokerage and risk management services. Dadia underscored the team's readiness to adapt strategically to evolving property market conditions, aiming for sustainable profitability in the year ahead.