So why is Lockton targeting this niche?
It is not that Lockton has run out of other lines of business to develop, according to Lockton International chairman Mike Hammond. But it is more that marine is a core insurance speciality, and moving in when times are tough can pay dividends.
Hammond compares the current move into marine with a decision Lockton made in 2008/2009 when it launched its Middle East business in Dubai — at a time others were leaving the Emirate.
“We’ve
