Lockton grows retrocessional reinsurance with double hires

Broking firm Lockton has made two more senior appointments, both hailing from  Aon, hot on the heels of news that Lockton Capital Markets had bought the assets of Vanpoint Advisors and taken on its founder Ken Pierce as chief executive officer.

The independently owned broker has now hired Bob Bissett from Aon to join its Lockton Re division as it expands its retrocessional reinsurance practice. His role is expected to focus on retrocession and direct and facultative placement broking in the London market. He will be based in London, but is not expected to take up his post until next year.

Lockton has also confirmed it has recruited retrocession broker Matt Foreman, also from Aon, for a non-marine retro broking role with responsibility for helping to build the retro practice. Foreman is expected to join the firm later this year.

Bissett has been at Aon for almost 20 years, most recently in the post of UK growth leader, where he was responsible for growth across all UK sectors. Initially he joined Aon as a senior vice president in the reinsurance practice at Aon Benfield’s Bermuda office. Later he became a team leader at Aon’s reinsurance broking unit in Bermuda, then moved back to the UK in 2013, becoming CEO of Global ReSpecialty at Aon in 2015.

Foreman leaves his role of head of London Market, non-marine, at Aon Global ReSpecialty, where he oversaw the retro placement teams. He first joined Aon as a graduate trainee, building a career in its reinsurance division. Prior to working in non-marine retrocession at Global ReSpecialty, he worked on aviation, Asia Pacific treaty reinsurance and US property treaty business.

Aon’s acquisition of Willis Towers Watson has prompted speculation about the future security of jobs at the broker, with commentators suggesting the merger will drive more talent to jump ship as pay cuts to reduce the impact of COVID-19 stress on the business also bite.