New division at the reinsurance broker to be led by Henrietta Butcher targets capacity for North American MGAs from London and international markets
Lockton Re has launched a new London North America portfolio solutions division and appointed Henrietta Butcher to lead the unit.
The new reinsurance broking team, known as LNAPS, will focus on securing capacity for North American-based MGA clients from London and other international carriers.
It will sit alongside Lockton Re’s existing portfolio solutions operations in the US, which primarily source capacity from North American markets.
Keith Harrison, international CEO of Lockton Re, said the new division would build on the broker’s established delegated authority and portfolio business, including Lloyd’s and London Market consortia, North American binders and hybrid or fronted reinsurance structures for MGAs.
“Lockton Re International already has a significant delegated authority (Binders) account for Specialty and European/International based MGAs, as well as a wider Portfolios business across all lines, that includes Lloyd’s and London Market Consortia, North American Binders and hybrid/fronted reinsurance transactions for MGAs,” he said.
Harrison emphasised expansion would strengthen Lockton Re’s ability to connect MGA clients with capacity on both sides of the Atlantic.
“Our new LNAPS Division will specifically expand our capabilities and focus on North American based MGA clients to secure capacity from London and Internationally based carriers. This expansion will dovetail perfectly with Lockton Re’s Portfolio Solutions operation in the USA that works to secure capacity predominantly from North American based carriers,” he said.
Butcher joins from rival broker Tysers, where she was a managing director and spent more than three decades, having started her career at the firm in 1991.
She is joined at Lockton Re by senior brokers David Soper, Richard Hodge, Henry Spratt, Paul Long, Laura Weir and Charlie Butcher, alongside a wider team of brokers and servicing professionals.
Butcher said the role offered a chance to support clients through a global portfolio solutions platform.
She said: “I am delighted to be part of Lockton Re’s holistic global portfolio solution capability that offers expertise to access alternative or complementary capacity from carriers on either side of the Atlantic and from wider international markets, regardless of where MGA clients are located.”
Harrison said the investment reflected Lockton Re’s ambition to grow its international portfolio solutions business.
“This expansion will capitalise on our global footprint and relationships, portfolio analytics and technology to deliver a cohesive set of solutions for portfolio clients. We are pleased to welcome Henrietta and the wider team, who are a strong fit with Lockton Re’s client-first culture,” he added.
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