Wednesday, 2 May, 2012 - 10:01
Lockton sells out of Australian Reliance
ONE of the world’s largest insurance companies is set to open offices in Perth and Sydney, after cutting ties with Western Australia-based broker Australian Reliance.
Lockton is the world's largest privately-held insurance broker, providing insurance, risk management and employee benefits solutions. In Australia, it provides the full suite of insurance broking and risk advice to clients.
Lockton is a member of the National Insurance Brokers Association (NIBA) and subscribes to the Insurance Brokers Code of Practice.
In November 2022, Lockton purchased Perth-based Zenith Insurance Services and established a specialty team trading as Lockton-Zenith Health & Community Services.
Rank | Company | # | |
---|---|---|---|
3rd | - | EBM | 80 |
4th | - | Willis Towers Watson | 76 |
5th | ![]() |
Lockton | 70 |
6th | ![]() |
Aon | 47 |
7th | - | PSC Insurance Brokers Perth | 45 |
Rank | Company | # | |
---|---|---|---|
6th | Willis Towers Watson | 79 | |
7th | Aon | 75 | |
8th | Lockton | 74 | |
9th | Centrewest Insurance Brokers | 58 | |
10th | Apollo Risk Services | 50 |
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NEW ROLE: Gavin Wren, National Manager, Corporate | 03 Sep 2023 |
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NEWS: Tagged in Austral, Western United change hands | 02 May 2023 |
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NEWS: Tagged in Private deals boost M&A | 12 Jan 2023 |
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NEW ROLE: Kim Gilbert, National Manager, Growth, Lockton-Zenith | 05 Jan 2023 |
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UPDATED: Insurance Brokers list | 05 Dec 2022 |
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NEWS: Tagged in Insurance could rise as construction failures continue | 03 Mar 2022 |
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NEW ROLE: Nick Turley, State Executive, WA | 29 Oct 2021 |
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UPDATED: Insurance Brokers list | 29 Oct 2021 |
ONE of the world’s largest insurance companies is set to open offices in Perth and Sydney, after cutting ties with Western Australia-based broker Australian Reliance.
International insurance broker Lockton Australia has signed a 750 square metre lease at a newly completed office building on Vincent Street in the centre of Leederville.
Vacancies across suburban office markets are decreasing, in contrast to those in the centre of Perth, but uncertainty remains for future developments outside of the CBD, according to new research.
Australian Reliance has become the third major insurance broker in Western Australia to change hands in the space of five months, with newly listed company PSC Insurance Group agreeing to buy the Perth-based group.
Australia’s competition watchdog has raised concerns about the proposed merger of insurance brokers Aon and Willis Towers Watson, which are two of the big three players in the market.
SRG Group will become a top 10 insurance broker in Western Australia after finalising the acquisition of Gibbscorp, as two big global competitors pursue their own merger.
Subcontractors caught in the collapse of WBHO are being advised to assess their insurance policies, while industry premiums could be set to rise amid ongoing insolvencies.
Zenith Insurance Services, Dardanup Butchering Co, Austral Pool Solutions, Omni Dental and Forpark Australia were among numerous private WA companies to change hands late last year.
Global insurance brokers Marsh and BMS Group have each expanded their WA presence, adding to a string of M&A deals by big players snapping up local operators.
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Lockton is included in 1 list - Insurance Brokers.