Organic growth drives Lockton global revenue 13% higher to $4.0 billion

By David Bull

June 16 - (The Insurer) - Lockton generated global revenue of $4.0 billion in its fiscal year to April 30, 2025, a 13% top line expansion it said was driven almost entirely by organic growth, marking the fifth consecutive year the intermediary has delivered double-digit organic growth.

The Kansas City, Missouri-based company said its overall five-year compound annual growth rate is more than 16% as it reported fiscal year 2025 highlights Monday.

The group’s international operations grew by 15% in constant currency to top $1 billion in revenue; its U.S. operations grew by 11% to $2.7 billion; and its Lockton Re arm grew top line by 29% year over year as it continued its global expansion.

Meanwhile, the intermediary’s Lockton transaction liability practice completed a record number of transactions in the period, growing 59% year over year, according to the statement.

Commenting on the financials, company chairman and CEO Ron Lockton said: “Lockton is, first and foremost, a growth company, and consistent double-digit organic growth continues to set us apart from our competition.

“As broker consolidation accelerates, Lockton's independence, performance, and consistent commitment to our clients and associates continue to fuel growth and attract best-in-class talent.”

Ron Lockton resumed his position as chairman and CEO last year, and then led a series of executive appointments, including Chris Brown as CEO of Lockton International, Travis Leonard as chief financial officer, Tim Ryan as president of its U.S. operations, Claude Yoder as chief data, analytics and digital officer and Mark Jones as international CFO.

In the financials release, Lockton said its Tim Gardner-led reinsurance business grew by 29% after going past its five-year anniversary in 2024.

It noted the platform now has a global footprint of 22 locations and a team of over 500 working across 20 global segments, including agriculture, capital advisory and portfolio solutions, which launched in the last year.

Its U.S. insurance broking business added $265 million in revenue, taking the total for the region to $2.7 billion, and representing the seventh straight year of double-digit organic growth.

Lockton highlighted the appointment of Tim Meacham as president of people solutions to lead a common, enterprise approach to delivering “consistent client value” across the U.S. as well as the establishment of a U.S. industry practices team led by Chris DiLullo.

This brought together the firm’s P&C and professional and executive risk practices under the leadership of U.S. risk solutions leader Devin Beresheim.

Lockton said its international business grew at nearly double the growth rate of other global brokers.

“Across the international footprint, the company has strategically expanded its geographic presence and operations to ensure accessible client service, including Lockton's largest investment in Asia to date - in India - as well as expanded operations in the Nordics,” said the statement.