Exclusive: Lockton hires USI’s Pereira and Miami-based transportation team with book that peaked at $10 million

By James Thaler

May 28 - (The Insurer) - Lockton has recruited longtime Miami-based USI transportation producer Steve Pereira and a team of support staff, who worked on a book of business that multiple broking and underwriting sources said peaked at $10 million in brokerage.

Market sources also confirmed that Pereira, who resigned from his post on Tuesday, is expected to be named Lockton’s Southeast transportation leader.

Pereira is joining Lockton following a more than seven-year career with USI, where he mostly served as a partner and senior vice president for property and casualty.

Sources said that Pereira's team worked on a book of business that had at one point peaked at around $10 million in brokerage, but had suffered some account losses since then.

It could not immediately be confirmed the scale of the team's book of business at their time of departure. An early version of this story had suggested that the current scope of their book of business stood at $10 million at their time of departure.

It was not immediately how much business Pereira managed at USI he is expected to bring, but multiple sources said the support team he is bringing with him to Lockton includes around four or five colleagues.

It was not immediately clear the extent to which Pereira is expected to bring over the roughly $10 million book in brokerage he managed at USI, but multiple sources said the support team he is bringing with him to Lockton includes around four or five colleagues.

Pereira’s move to Lockton comes a little over a month after former longtime USI real estate producer Juan Cordoba and a team of around five colleagues managing around a $15 million book of business left the company to join Alliant.

Spokespersons for USI and Lockton did not immediately respond to requests for comment.