Today, Lockton, the world's largest privately held global broker, posted record breaking revenue of $2.69 billion in the 2022 fiscal year that ended on April 30. This represents growth of 27% from prior year and nearly all of it organic.
"Our results are the outcome of being comprised of amazing people who are passionate about serving clients," said Ron Lockton, Chairman. "All credit belongs directly to them. I'm proud that our private ownership allows us to pursue a long-term strategy where our decision-making focuses on our clients, our people and our communities."
Lockton has attracted a remarkable roster of industry talent over the past twelve months, more than 1,200 people, across all lines of business. Lockton continues to focus on building innovative capabilities to meet client needs, including investments in Transaction Liability, Cyber, Surety and Marine. Geographic market expansion was also widespread with new offices in US, Europe, Scandinavia, New Zealand and Latin America.
"We are posting significant organic growth numbers in a brokerage industry where growth is typically driven by mega mergers, large acquisitions and private equity roll-ups," said Peter Clune, CEO. "Executing on a true organic growth strategy requires a different skillset where you're attracting people and clients one handshake at a time. We've experienced seismic momentum over the last 36 months, and after 56 years, we're just getting started."
Lockton has been awarded the Best Place to Work in Insurance for 13 years in a row, is a 2022 US Best Managed Company and has been recognized by Forbes as a 2022 Best Large Employer and Best Employer for Diversity.
What makes Lockton stand apart is also what makes us better: independence. Lockton's private ownership empowers its 9,000 Associates doing business in over 125 countries to focus solely on clients' risk and insurance needs. With expertise that reaches around the globe, Lockton delivers the deep understanding needed to accomplish remarkable results.
For 13 consecutive years, Business Insurance magazine has recognized Lockton as a "Best Place to Work in Insurance." Lockton was named among the 2022 Best Managed Companies by Deloitte and the Wall Street Journal. In 2022, Forbes named Lockton to its list of America's Best Large Employers. For more information, visit www.lockton.com.
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