Broker Lockton has launched an Asia Pacific (APAC) Transactional Risks Division with the recruitment of two senior staff from rivals JLT.
Will Seccombe will join as Business Leader based in Hong Kong, and Mindy Ng as Vice President based in Singapore. Mr Seccombe, a 30-year veteran in the insurance sector, was most recently Managing Director of JLT Mergers and Acquisitions Group in Asia. The two new staff will be joined by Julianna Yong, currently based in Lockton Singapore.
The broker said the new dedicated APAC transactional risk team will be complemented and supported by Lockton’s transactional risk teams based in New York, London and Oslo, “providing clients and the M&A community in the APAC region and internationally with a global solution for transactional-related risks”. The team will work with clients on a number of products and services including Representations & Warranties insurance, tax liability and deal-specific risk management, and financial institutions insurance.
Warren Merritt, CEO of Lockton Asia Pacific, said: “The APAC region’s insurance sectors are made up of both mature markets and developing markets which are at various stages in their respective development. Lockton see a huge opportunity to enter new geographies in the region while also enhancing Lockton existing APAC businesses though the acquisition of personnel and expansion into new specialty business areas in those markets.”
“The creation of this new business unit is the next step in Lockton’s strong growth plans within the APAC region,” said Lockton. “Transactional risk will help the business increase its geographic footprint and will build on its existing presence in the region by adding additional specialist capabilities.”