15 February 2016 Insurance

Lockton acquires marine specialist PL Ferrari & Co

Broker Lockton has acquired specialist Italian broker PL Ferrari & Co.

Headquartered in Genoa, Italy, PL Ferrari & Co is a specialist marine protection and indemnity insurance broker. It also has offices in Ferrara and Naples, Athens, Monaco and London.

The acquisition follows Lockton’s recent marine investments in LCH Lockton pte, Singapore, and strategic hires in China and Hong Kong.

Mike Hammond, chief executive officer (CEO), Lockton, said: “Our acquisition of PL Ferrari & Co demonstrates our commitment to build an industry leading practice in the global Protection and Indemnity Insurance and the wider Marine Market.

“PL Ferrari has a fabulous reputation, and we are delighted that CEO, Federico Deodato, his fellow directors, and shareholders have agreed to join Lockton.

“Their addition to our existing teams in London, Asia, Australia, Middle East, Latin America, and the US, gives our clients access to the very best global risk advice.”

Neil Nimmo, deputy CEO, Lockton, commented: “PL Ferrari & Co, is a fantastic cultural fit for us with its success based on a high degree of client focus and independence that rings true with our own values.”

Federico Deodato, CEO, PL Ferrari & Co, added: “We are hugely excited to join Lockton.  This provides perfect synergies for both companies and allows us to maintain and grow our business and our people for the benefit of our existing and future clients.”

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