KANSAS CITY, Mo., June 16, 2025 /PRNewswire/ — Lockton, Inc., the world’s largest independent and privately held insurance brokerage, recorded global revenue of $4.0 billion for the fiscal year ending April 30, 2025—representing a five-year compound annual growth rate (CAGR) of more than 16%.
Global revenue grew 13% to $4.0 billion, driven by nearly 100% organic growth—marking Lockton’s fifth consecutive year of double-digit organic growth.
International operations exceeded $1 billion, growing 15% in constant currency, marking a fourth consecutive year of double-digit growth.
U.S. operations reached $2.7 billion, growing 11%, and continuing a seven-year streak of double-digit organic growth.
Lockton Re grew 29% year-over-year, continuing its global expansion.
Lockton’s Transaction Liability practice cemented its industry-leading position, completing a record number of transactions and growing 59% year-over-year.
“Lockton is, first and foremost, a growth company, and consistent double-digit organic growth continues to set us apart from our competition,” said Ron Lockton, Chairman and CEO. “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.”
Leadership & Strategic Appointments
In 2024, Ron Lockton resumed his role as Chairman and CEO, leading a series of key executive appointments to strengthen the company’s global leadership. These included Chris Brown as CEO of Lockton International, Travis Leonard as CFO, Tim Ryan as U.S. President, Claude Yoder as Chief Data, Analytics and Digital Officer, and Mark Jones as International CFO. These leaders, working alongside established executives such as Tim Gardner, CEO of Lockton Re, bring diverse expertise and a shared vision for sustained growth.
“We continue to promote and hire proven leadership across our global enterprise,” said Ron Lockton. “We are taking swift action on our strategic priorities including aligning our specialty practices, products and verticals across the globe.”
International Growth
Lockton International, under the leadership of CEO Chris Brown, surpassed the $1 billion mark with a 15% growth rate in constant currency, 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. The company has also appointed new CEOs in Asia, Australia and the Middle East/North Africa.
U.S. Business Performance
Lockton’s U.S. business added $265 million in revenue, bringing total U.S. revenue to $2.7 billion, resulting in the seventh straight year of double-digit organic revenue growth. In August, longtime Lockton executive Tim Ryan was named U.S. President. In February, former regional COO Tim Meacham was appointed President of People Solutions to lead a common, enterprise approach to delivering consistent client value across the U.S.
Additionally, to further align services with client needs and to enhance delivery of individualized solutions, the firm established a U.S. Industry Practices team, led by Chris DiLullo, and unified the firm’s Property & Casualty and Professional & Executive Risk practices under the leadership of U.S. Risk Solutions Leader Devin Beresheim. Geographic growth in the U.S. included a new office in Austin and expansion of other offices across the country.
Lockton Re
Lockton Re, the company’s reinsurance business, achieved 29% revenue growth. In 2024, the business celebrated its fifth anniversary, a period during which the business experienced extensive growth, having established a global footprint of 22 locations—expanding nationally in Greensboro and San Francisco and globally in Dublin, Mexico City, Santiago, and Paris. Serving more than 300 clients, Lockton Re has a global team of over 500 colleagues working across 20 global segments, including Agriculture, Capital Advisory and Portfolio Solutions, which launched in the last year. With continued investment in talent and new specialties, Lockton Re is positioned for another high-growth year.
Digital & Innovation
To modernize Lockton’s capacity for leveraging data and technology in service to clients, the company established a Data, Analytics and Digital Office, led by innovation and analytics expert Claude Yoder. The office provides an entirely new paradigm for using technology, data analytics and AI to deliver valuable, data-driven insights to help clients mitigate and address risk. The Digital Office is already delivering insights that help clients anticipate volatility, manage complex risk, and make smarter, faster decisions.
Culture & Talent
Lockton continues to attract top talent by delivering unmatched client value. This people-first approach powers its industry-leading organic growth across all marketing cycles. Recognized globally for its culture, Lockton has earned numerous workplace accolades—including five consecutive U.S. Best Managed Company honors, 16 years as a Best Places to Work in Insurance, a Bell Seal for Workplace Mental Health honor, and Glassdoor’s 2025 Employees’ Choice Awards Best Places to Work award. Internationally, Lockton is certified as a Great Place to Work in Australia, New Zealand and Mexico.
“I am proud of our Lockton Associates for consistently earning exceptionally high client satisfaction scores that drive outstanding client retention rates,” said Ron Lockton. “By staying true to who we are, we have navigated through every trend in insurance brokerage for nearly 60 years. Our uncommon business model and private ownership, combined with a great workplace culture, create a powerful advantage for our clients and our people.”
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