Independent brokerage Lockton Australia has today launched a new advisory business, headed by former Willis Re local CEO John Philipsz.

Lockton Advisory will deliver risk, capital and placement services to the (re)insurance industry and corporate clients requiring bespoke insurance products across Australia, New Zealand and Pacific.

Lockton Pacific CEO Paul Marsden says the initial focus will be on reinsurance (treaty and facultative), MGA solutions including placement, capital management, strategic advisory and innovative risk transfer products.

“Lockton Advisory brings an innovative and aligned approach to the increasingly complex needs of those operating within the (re)insurance sector, as well as those reliant on its services," he said.

CEO Mr Philipsz is joined by Partners Russell Hails and Max Garratt, who are both former executives of Willis Re. Willis Re was recently acquired by Gallagher Re.

Mr Marsden paid tribute to the trio’s track record, reputation and network of global relationships which “will significantly enhance our specialist capabilities”.

Mr Philipsz says the (re)insurance market and those dependent on its services are navigating “increasingly diverse objectives" spanning financial outcomes as well as environmental, social and governance responsibilities.

“Lockton Advisory is uniting a team that will provide clients with expert advice, contemporary solutions and execution excellence in meeting these goals,” he said.