US-based Insurance broker Lockton is in the process of expanding into the reinsurance space in India, with a formal market entry expected in this financial year.
The world’s largest independent insurance brokerage commenced operations in India on January 1, 2025.
“We have built a strong foundation in a relatively short span of time, with a growing presence across key markets. We are currently present in nine branches across the country, including major hubs such as Mumbai, Delhi, Kolkata, Bangalore and Chennai, and continue to expand our footprint in line with client demand,” Sandeep Dadia, CEO & Country Head, Lockton India, told businessline.
From a scale perspective, the insurance broker serves over 1000 clients across sectors in the country, supported by a team of 241 associates, with plans to scale this to around 380 as it continues to grow.
“This reflects both the strength of our value proposition and the increasing demand for specialised risk advisory solutions,” Dadia said, adding a key differentiator has been its investment in technology.
" Our primary focus is on building the right talent, as we believe skilled professionals drive sustainable growth rather than merely chasing volumes. Our reinsurance offerings will span property and marine lines, including cargo, hull, and war, alongside specialised areas such as cruise lines and protection & indemnity (P&I)," the CEO said, adding additionally, it will support large and complex risks across sectors like construction, oil & energy, and other high-value property exposures, providing comprehensive, solution-driven coverage.
"In addition, we plan to extend reinsurance solutions across health and life insurance, working closely with insurers to address capacity and risk management needs across portfolios,” he informed.
Lockton has a significant presence in the international reinsurance market. Globally, it manages a large treaty business and is considered among the top 10 treaty brokers worldwide. It handles a substantial facultative reinsurance portfolio internationally.
“Our international approach goes beyond transactions; we invest heavily in analytics, geotagging, and risk assessment to deliver the best outcomes for insurers. The same philosophy will guide our expansion in India. Once we have sufficient capacity to serve Indian clients, we will extend treaty reinsurance offerings, ensuring that every engagement adds measurable value to the client’s portfolio rather than simply executing transactions,” Dadia said.
The company is targeting healthy growth in FY27, underscoring its confidence in both its capabilities and the rising demand for specialised brokerage and risk management solutions.
“While market conditions particularly in property may remain dynamic, the team is prepared to make strategic adjustments through the year to ensure sustainable and profitable growth,” Dadia added.
Published on April 3, 2026