Lockton and CRC Group Strengthen Leadership Amid Rising Casualty Rates
Two leading specialty distribution firms in the U.S. are reinforcing their casualty and wholesale divisions as market pressures reshape both carriers’ and brokers’ dynamics.
Lockton appointed Vince Gaffigan to lead its U.S. casualty practice, alongside Jessica Cullen, who was promoted to Executive Vice President, U.S. Casualty - Excess and Product Solutions. Both are based in St. Louis and will enhance the firm's strategy in an evolving landscape. Gaffigan, with over 30 years of experience, brings valuable leadership skills, while Cullen adds expertise in product innovation and claims advisory. Devin Beresheim, Lockton's U.S. risk solutions leader, emphasized that their combined strengths will help Lockton quickly adapt to market changes. According to Tim Ryan, Lockton's U.S. President, this collaboration is a part of a broader effort to boost growth within the casualty sector.
Evolving Market Dynamics
The strategic realignment at Lockton comes as the market grapples with rising rates. Marsh reports that U.S. casualty rates increased by 7% in Q2 2026, escalating to 11% when excluding workers’ compensation. Additionally, risk-adjusted umbrella and excess rates surged by 15%. While new capacities from MGAs and broker-led facilities are emerging, cumulative rate hikes and insurers offering reduced limits signal significant market shifts. Such conditions necessitate enhanced technical proficiency and market access for effective risk management.
CRC Group's Strategic Appointment
Mirroring Lockton's moves, CRC Group has appointed Christina Becht as Senior Underwriting Team Leader at CRC Specialty in Florida. Previously Vice President at RT Specialty in Tampa, Becht honed her expertise in retail agency relationships and complex property and casualty placements. Neil Kessler, CEO of CRC Specialty + Benefits, praised Becht's ability to build trust and take on greater responsibilities, enhancing CRC Group's wholesale capabilities in a demanding market.
Impact of Market Trends
Reportedly, surplus lines premiums in the U.S. increased by 9.7% through Q3 2025, presenting significant opportunities and challenges. Florida, known for its complex insurance environment due to coastal and commercial property risks, remains a focal point of robust E&S activity. CRC Specialty manages $32 billion in annual premiums across various sectors, including property, casualty, and employee benefits, showcasing the vital role of agility and strategic leadership in navigating the current market.
| Carrier | Key Leadership Move | Market Focus |
|---|---|---|
| Lockton | Vince Gaffigan appointed; Jessica Cullen promoted | U.S. casualty sector |
| CRC Group | Christina Becht appointed | Specialty wholesale capabilities |
Key Insights for Industry Professionals
For insurance professionals, these appointments signify a targeted approach toward strategic growth and innovation. As casualty rates continue to climb, firms must invest in expertise and relationships to navigate the complexities of insurance markets effectively. Understanding these trends can help insurers and brokers align their strategies to meet market needs, ensuring sustained growth and competitive advantage.