Investment is expected to formalise the relationship

Lockton, a privately held insurance broker, has acquired shareholding in Australian intermediary, Australian Reliance. Australian Reliance will also have access to global insurance markets through the Lockton International teams, in London, Singapore, Dubai and Bermuda.

Tim Higgins, executive vice president of Lockton, said: “This investment formalises a relationship which has developed during the past several years. There is so much we share in terms of values, culture and business models, and we see this relationship as a natural fit with our commitment to provide superior results to our clients everywhere in the world.”

Andrew Donnelly, CEO of Australian Reliance, said: “Our approach is simple: better people, better solutions, better service. This agreement with Lockton ensures that our clients continue to achieve unparalleled solutions from the industry’s leading insurance professionals.”

Australian Reliance is a privately held insurance broker, headquarter in Perth, Western Australia, with offices in Sydney and Melbourne.