Lockton Re hires chairman of marine & energy from JLT Re

Lockton Re, the reinsurance arm of broker Lockton, has appointed Martin Stephenson as chairman of marine & energy.

Stephenson was most recently at Guy Carpenter and was executive chairman of marine, energy & political risk for JLT Re at the time of the Marsh acquisition. Prior to that, he was head of reinsurance at Newman Martin and Buchan (NMB). He has over 30 years of market expertise.

Stephenson will work closely with Jerry Ridge, head of marine & energy and also Paul Upton, head of specialty lines. He will report to Keith Harrison, international CEO, Lockton Re.

Ridge said: “Martin is a hugely respected and well known market figure who will be a great addition to Lockton Re. His deep expertise in Marine and Energy and his experience of working with carriers who have some of the industry’s largest and most complex portfolios will further add to our ability to help clients understand, mitigate and capitalize on risk in these challenging times.”

Harrison added: “We are very excited that Martin will be joining Lockton Re in London. We are building a truly differentiated global reinsurance broker and Martin’s experience, expertise and market relationships are testament to our ability to attract the industry’s most talented and sought after practitioners. We are looking forward to welcoming him in July.”