Lockton, the world’s largest independent insurance broker and consultant, announced the acquisition of THB Brazil from Amwins, the largest independent wholesale distributor of specialty insurance products in the U.S.
A combination of two leaders in the Brazilian insurance and solutions market for individuals will allow for scalability and profitable growth, as well as access to an even richer set of innovative solutions for the clients of both companies.
Eduardo Lucena, executive director of THB Brazil, will take on new responsibilities as executive vice president of Lockton in Brazil after the deal is completed. Other THB executives will also join the management team of the combined company. The terms of the transaction were not disclosed.
“We are thrilled to begin a new era for Lockton in Brazil,” said José Otávio Sampaio, CEO of Lockton in Brazil. “As separate entities, Lockton and THB have both excelled in recent years. Our combined strength will make us even better, allowing us to develop more meaningful and long-term relationships with our clients, insurers, and reinsurers, provide development opportunities for our Associates, and achieve our goal of doubling in size over the next three years.”
The acquisition of THB follows other recent investments by Lockton aimed at expanding its operations in Brazil. In recent years, the brokerage has focused on attracting and retaining the best talent in the industry in its Risk Solutions, People Solutions, and Reinsurance teams. The addition of THB further strengthens Lockton’s commercial team, expands its capacity in Brazil, and presents new opportunities for sales and product development.
“The Brazilian insurance sector is expected to grow in 2023 and beyond, and remaining competitive requires us to continue adapting and innovating to meet our clients’ needs,” said Eduardo Lucena, CEO of THB Brazil. “We are excited to join Lockton and be part of its independent, client- and people-focused culture.”