Lockton announced that it has obtained a “significant equity holding in South Korean insurance broker IMI, with options to purchase an increased shareholding.” IMI has also been renamed Lockton Companies (Korea) Inc., or “Lockton Korea.”
The bulletin noted that Lockton and IMI have “served risk management clients together since IMI’s creation in June 1995.” IMI is focused on a broad range of commercial insurance, and in cooperation with Lockton has also developed domestic specialties in credit, professions, financial institutions and construction.
Lockton International CEO Julian James explained: “We are taking the opportunity not only to realize the investment potential in a well-performing retail business in Korea but also to properly align this business with other parts of the Lockton global office network. These offices are backed by a wealth of insurance and reinsurance experts serving clients in nearly every country in the world.”
Lockton Korea Managing Director Jinse Han added that since its formation IMI has striven to be “a truly independent and value driven intermediary on behalf of our clients, a key value I believe our Associates share with Lockton, which provides us with the additional benefits of being an international broker.”
Source: Lockton – www.lockton.com or www.lockton.com/international
Topics Mergers & Acquisitions Agencies
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