Kansas City, MO, August 7, 2024 – Lockton, the world's largest independent insurance broker, announced today that Tim Ryan has been appointed as U.S. President, effective immediately. In this role, Tim will report to Ron Lockton, Chairman and CEO of Lockton, and will guide Lockton's broader leadership team to drive growth, develop strategy, set priorities, and nurture culture for the U.S. business. Tim will also work with the U.S. leadership team to attract and retain the industry's top talent and ensure succession and continuity of leadership.
As the U.S. President, Tim will oversee Lockton's largest region. The business reported revenue of $2.43 billion and 11% growth over the prior year, its sixth consecutive year of double-digit revenue growth and an impressive five-year organic revenue CAGR of 13%. In addition to a strong financial position, the business has high client and Associate retention rates, deep product and industry specialization, and industry-leading talent.
"I am excited that Tim has accepted this role, and I have no doubt that our U.S. 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 U.S. business through its next chapter," said Ron Lockton.
Tim is a widely respected leader in the industry, with 19 years of experience as the COO of Lockton’s Northeast (Boston, Hartford, McLean, New York, Norwalk, Philadelphia, Portland, and Washington D.C.) business and 30 years of industry experience. He has led the Northeast through significant growth, geographic expansion, and integration, while maintaining a high level of client satisfaction and Associate engagement.
"I am incredibly excited by the opportunity to lead Lockton's U.S. 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 U.S. to continue to build on Lockton's success as a firm through serving and creating value for clients." said Tim Ryan.
About Lockton
What makes Lockton stand apart is also what makes us better: independence. Lockton's private ownership empowers its 12,500+ Associates doing business in over 140 countries to focus solely on clients' risk, insurance and people needs. With expertise that reaches around the globe, Lockton delivers deep industry knowledge and product specialization with a passion for serving clients.