Lockton’s US business reported revenue of $2.43bn for the fiscal year that ended on 30 April 2024. Credit: rafapress/Shutterstock.

Independent insurance broker Lockton has named Tim Ryan as its new president of US operations.  

Ryan, who brings more than three decades of industry experience, will be responsible for steering the company’s growth and strategic direction in the US.  

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He will report to Ron Lockton, the company’s chairman and CEO. 

For the fiscal year ended 30 April 2024, Lockton’s US business reported revenue of $2.43bn, an 11% increase from the previous year.  

This marks the sixth consecutive year of double-digit revenue growth for the company, which also has a five-year organic revenue compound annual growth rate of 13%.  

Ryan has 19 years of experience as the chief operating officer of Lockton’s north-east operations covering Boston, Hartford, McLean, New York, Norwalk, Philadelphia, Portland and Washington DC. 

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Ron Lockton said: “I am excited that Tim has accepted this role, and I have no doubt that our US business will thrive and continue its impressive growth and success under his leadership and enterprise-wide vision.  

“Tim has demonstrated his ability to lead, innovate and collaborate throughout his career at Lockton, and he embodies our culture and values. He is the ideal person to lead the US business through its next chapter.” 

Ryan added: “I am incredibly excited by the opportunity to lead Lockton’s US business, a company built on values that I have been proud to be associated with for nearly two decades.  

“I look forward to working with Ron, the broader leadership team and the talented associates across the US to continue to build on Lockton’s success as a firm through serving and creating value for clients.” 

Lockton recently expanded its offerings with the launch of a global space practice.  

This new division, headed by Ian George, will provide specialised products tailored to the diverse needs of the space industry, covering various aspects such as transit, pre-launch and in-orbit operations, as well as third-party liabilities and loss of revenue.