Kansas City, Mo.-based insurance broker Lockton Companies, LLC and Los Angeles-based IBIS Advisors Co. said they have entered into a strategic consulting alliance to benefit Lockton clients internationally.
Under the agreement, IBIS, a global human resource consulting firm, will assist Lockton in advising clients on employee benefits worldwide.
Lockton, a privately held broker, said its benefits practice, Lockton Benefit Group, provides brokerage and consulting services on employee benefits for more than 2,300 clients in the U.S. and Mexico. The strategic partnership with IBIS would allow Lockton to provide these services in 90 countries. The agreement is effective immediately. Terms of the deal were not released.
"We are pleased to support Lockton Benefit Group," says Richard Polak, chief executive officer of IBIS Advisors. "The combined resources provide our mutual clients with the services necessary to compete in the global environment."
Mike Brewer, president of Lockton Benefit Group, said, "As a growing number of our clients globalize and move into new international markets, the demand for a full range of international benefit services is increasing."
Lockton has made several moves to expand its international operations of late.
In August, Lockton announced the acquisition of London-based insurance broker Alexander Forbes International Risk Services, renaming it Lockton International. Earlier this month, Lockton announced that Julian James, director of worldwide markets at Lloyd's, would be joining the firm as executive chairman of international operations later this year.
More information about IBIS is available at www.ibisadvisors.com. For more information on Lockton, visit www.lockton.com.
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