Lockton, the world’s largest privately-owned insurance brokerage, has acquired the Corporate Superannuation and Insurance client portfolio from AXIS Financial Group (AXIS).
Richard Matsinger and Steph Canicais, previously with AXIS are now employees of Lockton, working from Lockton’s Perth office in the Group Risk team.
AXIS clients will benefit from Lockton’s extensive resources and capabilities while Lockton now has a new and expanded corporate superannuation offering for existing and prospective clients.
For over 30 years, AXIS has excelled in corporate superannuation consulting, assisting employers in transforming statutory superannuation expenses into valuable employee benefits.
Paul Marsden, CEO of Lockton Pacific commented: “This acquisition underscores Lockton’s commitment to strategically investing in industry specialisms that enhance client service and support our growth objectives.
While Lockton Pacific’s core growth strategy has always been, and continues to be, focused on investing in our people, the acquisition of AXIS’s client portfolio is unique because of the highly specialised nature of corporate superannuation consulting.
We’ve been able to efficiently enhance and expand our capabilities while also bringing immediate value to our business.”
AXIS co-founder and CEO Harry Burke stated: “The management of remuneration benefits is becoming an ever more important consideration in managing the ongoing motivation and retention of employees by their employers.
The acquisition enables Lockton to offer a fully integrated, end-to-end service to the superannuation and insurance markets, benefiting both employers and employees".
AXIS Financial Group will continue to trade independently, offering employee superannuation consulting services to personal clients.
Dean Currie, Head of Group Risk at Lockton, said: “The specialised superannuation consulting services complement Lockton’s existing Group Risk capabilities to provide a more comprehensive employee benefit offering.
This acquisition positions us uniquely in the market, allowing us to offer comprehensive employee benefits consulting and end-to-end solutions that enhance the success of both current and future clients by improving employee wellbeing.
We are now the only provider with such a complete offering”.
About Lockton
Lockton Pacific is part of Lockton, a global professional services firm with 12,500 professionals dedicated to providing over 65,000 clients across more than 125 countries with top-tier risk management, insurance, and employee benefits services.
Since its founding in 1966 in Kansas City, Missouri, Lockton has grown to become the largest privately held insurance broker in the world.
Lockton helps clients achieve their business objectives by protecting their most valuable assets – their people, property, and reputations.
For 16 consecutive years, Business Insurance magazine has recognised Lockton as a "Best Place to Work in Insurance."
Lockton has expertise in all facets of risk and insurance across a diverse range of industries.
Lockton’s team of risk and insurance specialists are committed to understanding clients' businesses and objectives, delivering demonstrable value and benefits through local expertise and global knowledge.
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