Peter Clune steps down as CEO of the family-owned re/insurance broker.

Lockton, the insurance and reinsurance broker, has announced that its executive chair, Ron Lockton, is reprising the CEO role.

He is the son of the family-owned intermediary’s founder Jack Lockton and previously served as chief executive from 2017 to 2020.

He replaces Peter Clune, who steps down as CEO.

Clune joined Lockton from Zurich Insurance Group in 2006 and took over the CEO role in 2020.

His previous roles include president and chief operating officer of Lockton US.

Ron Lockton said in an emailed statement: “In the nearly four years that I’ve served as executive chairman of Lockton, I have remained active in the company’s management and decision-making, and I am honoured and excited to be given the opportunity to serve once again as CEO.

“Jack Lockton founded this company with an unwavering belief that by focussing on our clients, fostering a great company culture, and remaining private, we would build and mobilise an exceptional company. I carry that belief today, and I couldn’t be more excited for what the future holds for us.

“I want to thank Peter for his many contributions to Lockton during his 17 years at the company. As CEO, Peter rose to the occasion and oversaw a sustained period of growth for the company. We wish him well.”