Lockton has announced the acquisition of Zenith Insurance Services, with the transaction expected to complete on Nov. 14.
Zenith is a Western Australia-based specialist insurance broker, focusing on aged care, disability, Aboriginal medical health services and community service organisations, as well as 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,” said Paul Marsden, Lockton Pacific CEO. “We share a relentless focus on providing exceptional client service and this is enabled by our undeniable investment in specialisms. 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.”
Through the acquisition of Zenith, Lockton will gain an experienced team of specialist risk advisors for the transport and logistics industry.
“Lockton shares Zenith’s client-first commitment and understands what it means to be specialists and take great care of clients,” said Kim Gilbert, Zenith Insurance Services managing director. “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.”
Zenith will retain its name under a new specialty health and community services business called Lockton-Zenith, which 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 and community services business. Gilbert will stay in the business and play a leadership role alongside Maybury.
