Lockton Re, the reinsurance broking arm of the privately held and independent intermediary, has hired well-known London market retrocession broker Matt Foreman, as the company starts to build-out a new retro practice.
Lockton Re has been seeking to add retrocession broking to its range of client offerings, with the fast growing independent wanting to position itself as a one-stop alternative to some of the bigger broking houses.
Foreman is the first significant hire that displays Lockton Re’s appetite to break into the retrocessional reinsurance broking marketplace, but we understand that there could be other hires to follow.
He will join Lockton Re towards the end of this year, taking on a role with a non-marine retro broking focus and a remit to assist in building the retro practice at the firm.
Foreman has worked his entire career in the reinsurance division at broker Aon, having begun as a graduate trainee at the firm.
Foreman moved through aviation, Asia Pacific treaty reinsurance and U.S. property treaty business, before moving into the non-marine retrocession space at Aon’s Global ReSpecialty.
Most recently, Foreman held the position of Head of London Market, Non-Marine, at Aon’s Global ReSpecialty, leading one of the more prolific retro placement teams in the industry, we understand.
Lockton Re confirmed the hiring of Matt Foreman and said he’d be joining towards the end of this year.