Lockton Re has launched a new London-based division focused on securing capacity for North America managing general agent (MGA) business, adding to its growing portfolio solutions platform.
The new unit, London North America Portfolio Solutions (LNAPS), will be led by industry veteran Henrietta Butcher (pictured above).
Keith Harrison, international CEO of Lockton Re, said LNAPS will sit alongside the broker’s existing delegated authority and portfolio operations.
“Lockton Re International already has a significant delegated authority (Binders) account for Specialty and European/International based MGAs, as well as a wider Portfolios business across all lines, that includes Lloyd’s and London Market Consortia, North American Binders and hybrid/fronted reinsurance transactions for MGAs,” he said.
He added that “our new LNAPS Division will specifically expand our capabilities and focus on North American based MGA clients to secure capacity from London and Internationally based carriers.” Harrison said this will “dovetail perfectly” with Lockton Re’s US Portfolio Solutions operation, which primarily sources capacity from North American carriers.
Butcher joins from Tysers, where she was a managing director and began her career in 1991. She is supported by senior brokers David Soper, Richard Hodge, Henry Spratt, Paul Long, Laura Weir and Charlie Butcher, along with a wider team of brokers and servicing professionals.
Commenting on her move, Butcher said, “This is an exciting opportunity for me, and for clients and prospects.” She added that she is “delighted to be part of Lockton Re’s holistic global Portfolio solution capability that offers expertise to access alternative or complimentary capacity from carriers on either side of the Atlantic and from wider International markets, regardless of where MGA clients are located,” noting that she has found the firm’s culture “really welcoming and energizing.”
“This investment supports the expansion of Lockton Re’s Internationally based Portfolio Solutions capabilities and will capitalize on our global footprint and relationships, portfolio analytics, and technology to deliver a high service, innovative and cohesive set of solutions for all our Portfolio clients,” Harrison said.
The London build-out comes as Lockton Re has also been adding leadership on the other side of the Atlantic, including the recent appointment of Anthony DiLorenzo as US casualty broking leader to support analytics-driven casualty program structuring.
