Insurance broker Lockton to create up to 50 new jobs

Lockton, the world's largest privately-owned insurance broker, is to create up to 50 jobs locally over the next five years as part of a plan to expand its employee benefits practice.

The moves comes as the company announced two senior hires for the practice with Ray McKenna and Niall O'Callaghan both joining from New Ireland Assurance where they served as distribution director and commercial director respectively.

"We have decided to invest significantly in Ireland to support the needs of pension scheme trustees, companies and individuals and are keen to work with like-minded advisers," said Simon Gilliat, who leads the company's international benefits practice.

“At Lockton, we have substantial growth plans for the business over the next five years, with Ireland a key focus of our global growth plans for employee benefits,” he added.

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Lockton, which has operated in Dublin since 1982, specialises in a number of areas including in construction, manufacturing, insolvency, technology, waste management and professional indemnity.

The US-founded company has more than 8,000 associates and over 60,000 clients globally.

It record global turnover of $1.72 billion in 2019, up 10.3 per cent versus the previous year. This marked its 53rd consecutive year of revenue growth.