Lockton has strengthened its professional and executive risk team in Australia with two strategic hires aimed at reinforcing its national capabilities in financial lines advisory and risk management services.
Craig Claughton (pictured above) is set to join the firm in July as national manager – financial institutions, operating from Queensland.
Claughton will lead Lockton’s approach to financial institution clients across Australia and support broader international initiatives within the segment.
Throughout his career, Claughton has supported major institutional and listed clients across banking and professional services.
He holds a Bachelor of Business in Insurance, is a Senior Associate of the Australian and New Zealand Institute of Insurance and Finance (ANZIIF), and is a member of the National Insurance Brokers Association (NIBA). His industry recognition includes being named NIBA Broker of the Year for NSW/ACT in 2021.
Dennis Moens (pictured immediately below) will also join Lockton in early July as a client manager based in Sydney.
Moens has 18 years of experience in financial lines, spanning both underwriting and broking roles. His previous work includes advising corporates and listed entities, with a focus on navigating regulatory complexities.
Moens holds legal qualifications and will play a key role in Lockton’s strategy to service high-complexity and compliance-sensitive accounts.
George Harding, general manager of professional & executive risk at Lockton, said the appointments will reinforce the firm’s depth of expertise.
“Craig and Dennis bring significant capability to our business. Craig’s four decades of experience and leadership in financial institutions is well recognised across the market, and Dennis adds valuable depth in our advisory-focused client service,” he said.
The timing of these appointments coincides with ongoing adjustments in the directors’ and officers’ (D&O) insurance sector.
Gallagher’s recent D&O Global State of the Market report noted that while rate reductions continue, they are beginning to level off, suggesting a stabilisation of market conditions heading into 2025.
According to the report, insurers are aiming to grow D&O portfolios but are applying stricter underwriting criteria.
In some cases, carriers are declining to renew policies that fall below pricing targets.
Coverage extensions, such as entity investigation protection, remain accessible, especially through broker-negotiated programs.
The Gallagher report outlines multiple trends impacting D&O exposures:
Insurers are also watching geopolitical developments, investor activism, and economic uncertainties, which are influencing D&O underwriting strategies globally.
Separately, Gallagher Bassett (GB) has made an internal appointment to expand its client services capability in Victoria.
Danny Benjamin (pictured immediately below) has taken on the role of manager, client partnerships – Victoria, within the firm’s personal injury division.
Debbie Vounakis, head of sales and client services – personal injury at GB, said the appointment reflects the increasing demand for tailored claims management.
“Personal injury claims are on the rise, both in terms of their number and the complexity, creating more demanding conditions for employers. These challenges require solutions that are specifically tailored to meet the unique needs of each situation and client,” she said.
Benjamin brings over two decades of claims experience and has worked across national and state-based schemes.
The addition brings the client services team to 16 members, collectively holding more than 200 years of sector experience, and supports GB’s broader strategy to enhance service delivery across injury claims management.
