Lockton has obtained a equity holding with a South Korean insurance broker, IMI, with options to purchase an increased shareholding. IMI has been renamed Lockton Cos. (Korea) Inc. (Lockton Korea).
Lockton and IMI have served risk management clients together since IMI's creation in June 1995. In addition to its broad commercial insurance expertise, Lockton Korea has developed domestic specialties in credit, professions, financial institutions and construction.
Lockton international chief executive officer, Julian James said, "We are taking the opportunity not only to realize the investment potential in a well-performing retail business in Korea but also to properly align this business with other parts of the Lockton global office network. These offices are backed by a wealth of insurance and reinsurance experts serving clients in nearly every country in the world."
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