Lockton, the world’s largest privately held insurance broker and consultancy, announced its acquisition of THB Brazil from Amwins, the largest independent wholesale distributor of specialty insurance products in the U.S.
The combination of two leaders in the Brazilian insurance and people solutions marketplace will allow for scalability and profitable growth, and access to an even richer suite of innovative solutions for the clients of both firms.
Eduardo Lucena, chief executive officer of THB Brazil, will assume new responsibilities as Deputy chief executive officer of Lockton in Brazil upon completion of the deal. Other THB executives will also join the combined company’s management team. Terms of the transaction were not disclosed.
“We’re delighted to begin a new era for Lockton in Brazil,” said José Otávio Sampaio, chief executive officer of Lockton in Brazil. “As separate entities, Lockton and THB have both performed exceptionally in recent years. Our combined strength will only make us better, enabling us to develop more meaningful and long-term relationships with our clients, insurers and reinsurers, provide development opportunities for our Associates, and achieve our goal of doubling in size over the next three years.”
The acquisition of THB follows other recent investments by Lockton designed to expand its Brazilian operations. In recent years, the broker has focused on attracting and retaining industry-best talent in the country across its Risk Solutions, People Solutions and Reinsurance teams. Adding THB further strengthens Lockton’s commercial team, expands its capacity in Brazil and presents new opportunities for sales and product development.
“The Brazilian insurance sector is expected to grow in 2023 and beyond and staying competitive requires us to continually adapt and innovate to meet our clients’ needs,” said Eduardo Lucena, chief executive officer of THB Brazil. “We’re excited to join forces with Lockton and be a part of its independent, client- and people-focused culture.”