Lockton has acquired Zenith Insurance Services with a completion date of 14 November 2022.
The acquisition is a combination of genuine industry specialists and unrivalled client service
The new Lockton-Zenith Health & Community Services specialty team will unlock a true national and global footprint of industry specialism
Lockton, the world’s largest privately owned insurance broker, today announced it has acquired Zenith Insurance Services (Zenith), a specialist insurance broker.
Zenith is an insurance broking house specialising in the key areas of aged care, disability, aboriginal medical health services and community service organisations, in addition to transport and logistics.
“The combination of Zenith and Lockton brings together two specialist businesses who are extremely passionate about delivering genuine value to clients through true industry specialism. We share a relentless focus on providing exceptional client service and this is enabled by our undeniable investment in specialisms,” said Lockton Pacific Chief Executive Officer, Paul Marsden.
“We have a lot in common. Like Lockton, Zenith is a company founded on a simple idea: deliver the best service in the industry. With our shared industry leading client retention rates, our clients will continue to benefit from the level of service they deserve.”
Zenith Insurance Services Managing Director, Kim Gilbert, said: “Lockton shares Zenith’s client-first commitment and understands what it means to be specialists and take great care of clients. The world has undeniably changed and clients now need more from their risk and insurance advisor. From natural catastrophes to cyber events, talent attraction and retention, to the ongoing impacts of COVID-19, these are all challenges impacting risk profiles and the availability and cost of insurance.”
“We recognise our clients now need access to specialists with a national and global footprint, wherever they are based. Lockton will work in collaboration with our existing talent to set new standards for the services and value we can deliver,” he explained.
Zenith will retain its name under a new specialty Health & Community Services business called Lockton-Zenith and the collective will specialise in retirement living, aboriginal medical health services and community service organisations, primary healthcare and aged care. The new business will be led by Ian Maybury, the current leader of Lockton’s Health & Community Services business. Kim Gilbert will continue to stay in the business and play a leadership role alongside Ian Maybury.
Through the acquisition of Zenith, Lockton has also gained a highly-experienced team of specialist risk advisors for the transport and logistics industry.
“This acquisition is not about being a bigger company, it’s about being the best in the industries where we know we can make the biggest difference. This news only strengthens the specialist proposition which we pride ourselves on,” said Ian Maybury.
Zenith began as a small office in Western Australia in 2001. 21 years on, its reach extends across the nation with confident clients in every state and territory.
As a specialist niche insurance broker, Zenith has provided a combination of industry-specific products, services and advice that are unique, innovative and needs-based.
Its approach has been supported by the highest level of service and sector knowledge. That’s something its staff have cultivated through direct involvement in its key industries over a combined 100 years.
Its service-based approach has focused on the needs of each and every client, which has resulted in Zenith becoming firmly established as a leader in providing professional broking services to niche markets.
Lockton is a global professional services firm with 9,500 professionals focused on providing over 65,000 clients with the best in risk management, insurance, and employee benefits services.
From its founding in 1966 in Kansas City, Missouri, Lockton have grown to become the largest privately held insurance broker in the world and 8th largest overall by helping clients achieve their business objectives through protecting their most valuable assets - their people, property, and reputations.
For 14 consecutive years, Business Insurance magazine has recognised Lockton as a "Best Place to Work in Insurance." Locally owned, our Australian business boasts experts in all facets of risk and insurance across a diverse range of industries. Our team is committed to understanding our client's business and objectives to deliver demonstrable value and benefits through local specialist services and global knowledge.