Lockton has posted record global annual revenue growth of 27% as it added more than 1200 employees across all lines of business, including a new office in New Zealand.

The brokerage is celebrating its 10th anniversary in Australia.

It launched here with just 23 employees in 2012, a head office in Perth and a small complementary operation in Sydney, and now has 2023 growth targets of more than 200 associates across 10 offices, with services extended to New Zealand and the Pacific Islands.

“Our entrepreneurial spirit creates a unique culture of passion, responsiveness, energy and the blazing speed at which we operate,” CEO Paul Marsden, who has been at the local Lockton operation since the outset and has held the top job since 2017, said.

Worldwide, revenue growth was 27% in the year to April 30, up from 14% in the previous 12 months, and client retention was 97%.

Global CEO Peter Clune says Lockton achieved annual revenue of $US2.69 billion ($3.82 billion) and significant growth from existing operations by "attracting clients one handshake at a time” in an industry where growth was typically driven by mega mergers, large acquisitions and private equity roll-ups.

“I have had a lot of people call and question what is going on at Lockton? Why is there such momentum? Those numbers are remarkable,” Mr Clune said.

“We’ve experienced seismic momentum over the last 36 months. After 56 years, we’re just getting started.”

Lockton invested in transaction liability, cyber, surety and marine, and opened new offices in New Zealand, the US, Europe, Scandinavia and Latin America.

In March, Lockton was approved as a licensed insurance broker and captive insurance manager in the Cook Islands. Late last year, Lockton New Zealand appointed former WTW New Zealand CEO and Marsh Senior VP Peter Lowe to head its new kiwi operation.

This year it opened a Christchurch office which it says will soon be followed by a Hamilton office, and launched Lockton Advisory to deliver a suite of risk, capital and placement services insurers and corporate clients.

“The global risks of our clients are increasing. We’re developing innovative solutions to help them grow and protect their business as the world is becoming more complex,” Mr Clune said.

Lockton has 9000 associates in more than 125 countries.