Lockton Companies

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Lockton Companies
Type Private
Industry Insurance
Founded Valencia Place at Country Club Plaza
Kansas City, Missouri U.S. (1966 (1966))
Founders Jack Lockton
Headquarters Kansas City, MO, U.S.
Number of locations 64 locations in 17 countries
Key people David M. Lockton, Chairman, John Lumelleau, President and CEO, Mike Hammond, International Chairman, Glenn Spencer, Chief Operating Officer
Products Insurance, Risk Management and Employee Benefits
Revenue 2014 Global Revenue $1,126,000
Employees 5,300
Website www.lockton.com

Lockton Companies Inc. is the world's largest privately held insurance brokerage firm, providing insurance, risk management and employee benefits solutions. In addition to its Kansas City, Missouri headquarters, Lockton operates 64 locations in 17 countries. Lockton currently employs more than 5,300 Associates worldwide.

The company was founded by Jack Lockton in 1966 and has since become the world’s 10th largest insurance brokerage firm.[1] Lockton serves a wide array of industries with services that include risk management, casualty, surety, professional indemnity and more. For 46 years, Lockton posted extraordinary organic growth, with global revenues reaching more than $1 billion in fiscal 2013.

Entities[edit]

  • Lockton Benefits Group: Lockton’s Employee Benefit’s team works closely with insurance carriers and administrators to create comprehensive and integrated benefits strategies for clients. The Lockton Benefits Group provides services including compliance, executive benefits, health and welfare, health risk solutions, retirement and more.
  • Lockton Affinity: Lockton Affinity, an affiliate of Lockton Companies, meets the insurance needs of affinity groups, franchises, professional organizations, and associations of all sizes. Lockton Affinity offers a variety of insurance product options and programs. Products include: general liability, professional liability, property, workers' compensation, directors & officers liability, commercial auto, specialty coverage, excess, health plans and more.[2]
  • Lockton Global is a partnership of brokers who provide risk management and employee benefits consulting to multi-national companies.[3]

History[edit]

In 1966 Jack Lockton (1942–2004) founded Lockton Insurance. He had just graduated from the University of Missouri Kansas City in 1964 with a degree in Economics. Prior to founding Lockton Insurance, Jack Lockton worked as an underwriter for a surety bonding company where he specialized in serving contractors.

Lockton Company started when Jack partnered with his parents to share office expenses and have the money to hire office help. He was able to persuade big name people in the industry to leave their established jobs to come work with him, including Gary Hambright who had worked with Jack at his previous job. In 1976 Jack’s brother David M. Lockton joined the company as Lockton’s ninth employee. David later served as President then CEO. Since 2003, David has served as the company’s Chairman.

Lockton began expanding their business across the country after establishing an office in Denver in 1979 and gaining success. They focused on finding a great business leader in the area, recruiting them to start an office, and taking off from there. This is still their model today.[4]

In 2006, Lockton expanded globally with the acquisition of Alexander Forbes International Risk Services, making it the world's largest privately owned broker.[5]

Community Involvement[edit]

Lockton is known for being exceptionally involved in their community. They have taken part in numerous fundraisers and service project for more than 30 different organizations. Lockton has contributed to various charities, organizations, and projects, including:[6]

Awards[edit]

2014

  • Earned sixth consecutive Best Places to Work in Insurance honor[7]
  • Lockton Mexico earned the Socially Responsible Company Award from Mexico’s Philanthropy Center and the Alliance for Corporate Social Responsibility.[8]
  • Lockton Mexico named a Great Place to Work for the fourth year in a row by the Great Place to Work Institute.[8]
  • Lockton Companies earned a spot in UBM Tech's InformationWeek Elite 100, its annual ranking of the most innovative U.S.-based users of business technology.[9]
  • Lockton Denver recognized as having the Best Campaign Event by Mile High United Way.[10]
  • Lockton Companies named one of top 100 Healthiest Workplaces.[11]

2013

  • Awarded with innovation Award from VMware, Inc.[12]
  • Received ImpacT Award from the Kansas City Business Journal for its Enterprise Analytics initiative.[13]
  • Lockton Thailand received the Prime Minister’s Insurance Award for Outstanding Non-Life Insurance Broker.[14]
  • Earned one of the Best Places to Work in Insurance spots for the fifth year in a row.[15]
  • Lockton St. Louis earned a spot on the Top 50 Workplaces list made by the St. Louis Post-Dispatch.[16]
  • Lockton Dallas received Best Places to Work in North Texas from the Dallas Business Journal.[17]
  • Lockton Mexico awarded the Value-Based Health Award by the Institute for Health and Productivity Management.[18]
  • Lockton Denver earned Partner in Philanthropy Award for community service from the Denver Business Journal.[19]
  • Lockton Kansas City earned spot as one of the Top 5 Insurance Agencies by the Kansas City Business Journal.

References[edit]

External links[edit]