Lockton Revenue Rises to $4.5 Billion in Fiscal Year 2026
Lockton, the world’s largest privately held independent insurance brokerage, reported strong financial results for fiscal year 2026, with global revenue rising 12% year-over-year to approximately $4.5 billion, including 11% organic growth. This marks the sixth consecutive year of double-digit organic growth, underscoring the strength of its client relationships, diversified business model, and long-term investment strategy.
‘Fiscal year 2026 was an exceptional year for Lockton,’ said Ron Lockton, Chairman and Chief Executive Officer. ‘Our results are a testament to the trust clients place in us, the quality of our people, and the power of our independent, private ownership model. Our structure allows us to invest with a long-term perspective, adapt quickly to client and market needs, and continually reinvest in the capabilities, insights, and innovation that help clients navigate an increasingly complex risk environment.’
Lockton’s performance was particularly resilient given challenging market conditions. Global property insurance premiums declined as capacity and competition increased, while US casualty lines continued to face pricing pressure and rising claims costs. Despite this, Lockton’s diversified platform delivered balanced growth across regions and business segments. Lockton International and Lockton Re each grew approximately 15%, while the US business achieved double-digit growth for the eighth consecutive year.
Lockton’s US operations continued their strong momentum, with revenue reaching nearly $3 billion, an 11% increase year-over-year. This performance was supported by strong client retention and sustained growth in key areas, with a revenue retention rate of 94%. The company also strengthened its US platform by expanding its focus on national industry sectors and specialised practices across Risk and People Solutions. Revenue from People Solutions surpassed $1 billion for the first time, reflecting consistent demand for integrated services spanning employee benefits, wellbeing, and consulting.
Lockton’s international business also delivered a strong performance, achieving 15% growth despite varying regional conditions. This was partly driven by 27% growth in People Solutions and continued strength in retail and specialty lines. The company expanded its operations into Switzerland, Saudi Arabia, and Italy, while increasing investments in its operating model, leadership, and client service teams across Europe, Latin America, the Middle East, Asia, and the Pacific. These investments reflect a deliberate strategy to be closer to clients, deliver more locally relevant service, and provide integrated cross-border expertise amid increasingly global and interconnected risks.
Lockton Re, the company’s global reinsurance business, continued its strong growth trajectory, supported by expanded client relationships, geographic expansion, and targeted investments in talent, leadership, and capabilities. The business benefited from rising demand for sophisticated advisory support as insurers faced shifting market dynamics, capital constraints, and portfolio optimisation challenges. Lockton Re further developed its capital markets and capital advisory capabilities, enhanced its global portfolio solutions, and invested in cyber and credit offerings, strengthening its position as a long-term partner for clients navigating evolving reinsurance and capital markets.
Over the past year, Lockton made significant investments in data, analytics, and artificial intelligence to enhance client service, deepen insights, and support Associates across its global platform. Central to this effort is Lockton SAGE, a proprietary AI-powered technology ecosystem designed to connect data, analytics, and expertise to deliver actionable insights.