Aon plc has appointed Helen Lockwood as head of Affinity and Small Business in Australia.
Lockwood, who has been with Aon since 2022, most recently served as head of strategic platforms. In her new role, she will be based in Sydney and join the Australian executive leadership team.
Aon’s Australia CEO, Jennifer Richards, said Lockwood had played a key role in the firm’s commercial insurance platforms.
“Helen’s platform and product experience and results-driven focus make her ideal to continue the excellent work underway in Affinity and Small Business. Her proven leadership skills will be a tremendous asset to the team,” she said.
Lockwood previously held senior roles at Suncorp, where she managed property and casualty portfolios and worked in distribution and underwriting agency divisions.
Lockwood said she was focused on strengthening Aon’s services for small businesses and associations.
“I look forward to further embedding Aon’s position as an innovator in this space and delivering differentiated solutions and advice to small businesses and associations across Australia,” she said.
Lockwood’s appointment comes as commercial insurance pricing has shown signs of moderation.
The Marsh Global Insurance Market Index reported that global commercial insurance rates were flat in the second quarter of 2024 (Q2 2024), following a 1% increase in the first quarter. This was the first time since the third quarter of 2017 that the global composite rate had not risen, reflecting increased competition in the property insurance market.
In the Pacific and Canada, rates declined by 5%, while the UK and Asia saw a 3% decrease. Meanwhile, rates rose by 1% in the US and Europe and by 4% in Latin America, the Caribbean, and the India, Middle East, and Africa (IMEA) region.
Aon has also announced Kris Karlsson as the new head of M&A and Transaction Solutions for the Pacific region, effective immediately. He will be based in Sydney and report to Eden Fletcher, Aon’s head of specialty solutions in Australia.
Karlsson has over two decades of experience advising companies in Australia, Asia Pacific, and the US on M&A, capital markets, and corporate strategy. He joins Aon from DP World, where he was vice president of corporate development, overseeing M&A and capital projects in the Asia-Pacific region. He has also held roles at PwC, Commonwealth Bank, and boutique investment firms, working across industries such as technology, healthcare, infrastructure, and financial services.
“We anticipate a robust M&A environment in 2025 and believe Kris’s leadership will be invaluable as we continue to grow and execute our M&A strategy to support our clients. We look forward to the positive impact he will have on our clients and our business,” he said.
Global M&A activity showed signs of recovery in 2024. According to Gallagher Specialty’s Global M&A Insurance Report, the first half of 2024 was impacted by inflation and high interest rates, leading to slower deal activity. However, the second half of the year saw increased transactions, particularly in private equity, as businesses resumed growth strategies.
The report noted that demand for insurable transactions rose alongside increased deal-making, with Warranty and Indemnity (W&I) and Representation and Warranties (R&W) insurance becoming more widely used.
M&A activity in the Asia-Pacific region was constrained by economic conditions in early 2024, with prolonged deal lead times and valuation gaps affecting transactions. However, a gradual recovery in the latter part of the year has led to expectations of stronger deal activity in 2025.
Karlsson said he looks forward to enhancing Aon’s M&A services.
“I am thrilled to join Aon at such an exciting time in the M&A space. I look forward to working with the team to continue to drive innovation in M&A and transaction solutions, further elevating the overall Aon client experience,” he said.
