Lockton Companies
A global, privately held insurance brokerage and risk-management firm founded in Kansas City in 1966.
Last updated August 31, 2026
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Overview
Lockton Companies is a privately held insurance brokerage and professional-services firm headquartered in Kansas City, Missouri. Its core activities include commercial insurance brokerage, risk management, casualty insurance, surety, professional indemnity, and employee-benefits consulting. The firm serves organizations across a broad range of industries and combines insurance placement with advice intended to help clients identify, finance, and manage business risks. The company was established in 1966 by Jack Lockton, who had previously worked as an underwriter specializing in surety bonding for contractors. Lockton began the business with support from his parents, who helped share office expenses and make it possible to hire administrative assistance. From the beginning, Jack also sought to recruit experienced insurance professionals, including Gary Hambright, from established firms. This combination of entrepreneurial ownership and experienced industry personnel became an important part of Lockton's early development. Lockton initially developed as a regional American brokerage. The opening of a Denver office in 1979 began a broader expansion across the United States. Rather than relying only on centralized growth, the firm pursued a model built around identifying established business leaders in new markets and recruiting them to develop local offices. That approach allowed Lockton to expand its geographic reach while retaining a strong emphasis on local relationships and industry specialization. Family involvement has remained significant in the company's leadership history. Jack's brother, David M. Lockton, joined in 1976 as the company's ninth employee. David later served as president and chief executive officer and became chairman in 2003. In May 2020, the chairmanship passed to Jack's son, Ron Lockton, who had held a range of positions at the firm during more than three decades and had served as chief executive officer from 2017 to 2020. Ron resumed the CEO role in February 2024. Lockton began its international expansion in 2006 through the acquisition of Alexander Forbes International Risk Services. The transaction provided a platform for the company to broaden its global operations and was associated with Lockton becoming the world's largest privately owned insurance broker. According to the cited company and encyclopedia material, Lockton now operates more than 150 offices, conducts business in more than 160 countries, and employs more than 13,100 people worldwide. The firm remains privately held rather than publicly traded. Its business scope extends beyond conventional insurance placement to include risk advisory work, specialty insurance, employee benefits, and services for complex commercial exposures. Lockton's private ownership and emphasis on organic growth distinguish it from many large publicly listed insurance brokers. The available reference material states that the company recorded nearly six decades of organic growth and reported global revenue of more than $4.0 billion in fiscal 2025; that figure is included only as a time-specific reference because Lockton is not publicly listed and does not have a quoted stock ticker.
History
Lockton Companies traces its origins to 1966, when Jack Lockton founded Lockton Insurance in Kansas City. Jack was 24 years old and had graduated from the University of Missouri–Kansas City in 1964 with an economics degree. Before starting his own brokerage, he had attended Westminster College in Missouri and worked as an underwriter for a surety-bonding company, where he concentrated on contractors and related risks. That underwriting background gave him familiarity with the commercial insurance needs of construction businesses and helped shape the firm's early specialization. The company began with a practical family-supported arrangement. Jack partnered with his parents to share office costs and create enough capacity to hire office help. He also recruited experienced insurance professionals from established organizations. Gary Hambright, who had worked with Jack at his previous employer, was among the early professionals to join him. The early business therefore combined a young founder's entrepreneurial initiative with personnel who already understood insurance production and client service. In 1976, Jack's brother David M. Lockton joined the company as its ninth employee. David subsequently became president and chief executive officer and later served as chairman. His involvement helped establish a continuing family role in the management and ownership culture of the firm. Jack Lockton remained associated with the company's founding identity until his death in 2004, while David served as chairman from 2003 until 2020. Lockton's first major phase of geographic expansion occurred within the United States. In 1979, the firm opened an office in Denver, beginning a strategy of extending its presence beyond Kansas City. The company developed by looking for successful business leaders in additional markets and recruiting them to build local offices. This approach was intended to combine the resources and capabilities of a growing brokerage with the relationships, reputation, and market knowledge of local insurance professionals. The model became a continuing feature of Lockton's expansion. The firm moved into international growth in 2006 through the acquisition of Alexander Forbes International Risk Services. The transaction expanded Lockton's international platform and contributed to its emergence as the world's largest privately owned insurance brokerage firm. Lockton's services broadened beyond conventional brokerage to cover risk management, casualty, surety, professional indemnity, and employee benefits. Its client base spans multiple industries, allowing the company to apply both sector-specific and geographically tailored approaches to commercial risk. Leadership changed again in the late 2010s and early 2020s. Ron Lockton, Jack Lockton's son, had spent more than 30 years in a variety of company roles before becoming chief executive officer in 2017. In May 2020, he succeeded David M. Lockton as chairman. Ron later resumed the CEO position in February 2024, making him the company's current chairman and chief executive officer according to the cited reference material. Lockton remains privately held and has continued to describe its development in terms of long-term organic growth. The reference material states that the company operates more than 150 offices, transacts business in more than 160 countries, and has more than 13,100 employees worldwide. It also reports global revenue above $4.0 billion for fiscal 2025. These figures place Lockton among the largest insurance brokers internationally, while its private ownership separates it from major publicly traded competitors. The firm's present identity rests on a combination of family continuity, local-office entrepreneurship, specialty insurance expertise, and an international network serving complex organizational risks.
- 2024
Ron Lockton resumes as chief executive officer
[1]Ron Lockton returns to the CEO position in February while remaining chairman.
- 2020
Ron Lockton becomes chairman
[1]In May, Ron Lockton succeeds David M. Lockton as chairman.
- 2017
Ron Lockton becomes chief executive officer
[1]Ron Lockton takes the CEO role after more than three decades in different positions within the firm.
- 2006
International expansion through Alexander Forbes
[1]Lockton acquires Alexander Forbes International Risk Services and substantially extends its international brokerage platform.
- 2003
David M. Lockton becomes chairman
[1]David M. Lockton takes over as chairman, a position he holds until 2020.
- 1979
Denver office opens
[1]The Denver office marks the beginning of Lockton's wider expansion across the United States.
- 1976
David M. Lockton joins the company
[1]Jack Lockton's brother joins as the firm's ninth employee and later becomes president, chief executive officer, and chairman.
- 1966
Lockton Insurance is founded
[1]Jack Lockton establishes the insurance brokerage in Kansas City with family support and a focus shaped by his prior experience in surety underwriting.
Products and positioning
A privately owned, relationship-led insurance broker focused on tailored commercial risk, specialty insurance, and employee-benefits solutions, with local-market expertise supported by an international network.
Insurance brokerage
Commercial insurance brokerage
Lockton arranges commercial insurance for organizations across a wide range of industries. Its brokerage role includes helping clients assess exposures, structure insurance programs, access insurer capacity, and manage renewals and claims-related needs. The firm's local offices and international network support both domestic programs and risks spanning multiple jurisdictions.
Risk advisory
Risk management
Risk-management services are designed to help businesses understand and manage operational, financial, liability, and other commercial exposures. Lockton combines advisory work with insurance brokerage so that clients can consider risk-control measures, retention structures, and insurance solutions together rather than treating placement as a standalone transaction.
Specialty insurance
Casualty insurance
Lockton provides brokerage and advisory support for casualty risks, including liability exposures associated with commercial operations. The offering is part of the firm's broader specialty and commercial insurance portfolio and can be tailored to the industries, jurisdictions, and risk profiles of individual clients.
Surety
Surety and bonding
Surety services connect clients with bonding solutions used to support contractual, construction, and other business obligations. Jack Lockton's prior experience as a surety underwriter specializing in contractors helped inform the company's early expertise in this area, which remains among the services associated with Lockton.
Professional liability insurance
Professional indemnity
Professional indemnity insurance protects organizations and professionals against certain claims connected with their services, advice, or professional duties. Lockton includes professional indemnity among its insurance and risk-management capabilities, serving clients whose liabilities require specialized underwriting and brokerage knowledge.
Employee benefits
Employee benefits consulting
Lockton advises employers on employee-benefits programs as part of its broader corporate risk and people-services offering. The practice complements the firm's commercial insurance work by addressing benefit design, insurance-related arrangements, and the management of workforce risks for organizations operating in different markets.
Brand decisions
2024
Return of Ron Lockton as chief executive officerStrategyBackground
Ron Lockton had previously led the company as CEO from 2017 to 2020 and had served as chairman since May 2020.
Action taken
Ron Lockton resumed the chief executive role in February 2024 while continuing as chairman.
Aftermath
The change reinforced the continuity of family leadership at the privately held brokerage.
2006
Acquisition of Alexander Forbes International Risk ServicesM&ABackground
Lockton had built a significant United States brokerage business and sought to develop an international platform.
Action taken
The company acquired Alexander Forbes International Risk Services, expanding its international operations.
Aftermath
The transaction was associated with Lockton becoming the world's largest privately owned insurance brokerage firm and supported subsequent business across more than 160 countries.
Recent events
WTW sues Lockton over 18 construction insurance brokers joining rival[3]
Reported:
Willis Towers Watson sued Lockton on Aug. 24 after 18 members of its construction insurance practice resigned and joined the rival brokerage; WTW seeks to block servicing of transferred contractor and owner accounts.
Lockton forms strategic alliance with Birwood Services Group[4]
Reported:
Lockton announced a newly formed strategic alliance with Detroit-based insurance brokerage Birwood Services Group to serve multinational, complex businesses and underrepresented communities.
Sources4 sources
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