Lockton Re has expanded its Philadelphia operations, moving into a larger office located at 1600 Market Street. The relocation follows increased headcount over the past fiscal year and growth in the firm’s client and partner network.
The updated office space more than doubles the size of the previous location. Lockton Re said that the design supports a more open layout, intended to encourage collaboration among employees and accommodate client meetings.
The workspace includes upgraded technology in meeting rooms aimed at enhancing internal and external communications.
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The office is located in the PNC Bank Building at 1600 Market Street, a 39-story high-rise in downtown Philadelphia. Completed in 1983, the tower houses a range of corporate tenants, including financial services firms, and is a fixture in the city’s business district.
“Our new location in Philadelphia is more open, bright and stays true to our core values of fierce independence, empowered people and being born digital. It’s great to see our teams working side by side and hosting clients in our new space,” said Nick Durant, CEO of Lockton Re North America.
The company said the new environment enables junior and senior colleagues to work together in shared spaces. It cited this structure as a way to support learning, build trust among employees, and maintain operational continuity.
The move comes as Lockton Re continues to grow its presence in Philadelphia. Earlier this year, the company appointed Lisa Hannah as a broker within its accident, health, and life practice, based out of the Philadelphia office.
Her role focuses on strengthening client relationships in the health and benefits reinsurance space, adding to the firm's capabilities in the region.
Lockton Re’s relocation also follows a year of significant revenue growth. Parent company Lockton reported US$4 billion in global revenue for the fiscal year ending April 30, 2025, with Lockton Re contributing a 29% year-over-year increase.
The reinsurance arm now operates in 22 locations globally and employs more than 500 colleagues, reflecting broad expansion across markets.
In line with the company’s growth and investment in infrastructure, Lockton also recently established a digital office. The unit is tasked with advancing the organization’s use of data, analytics, and technology.
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