Insurance company Lockton has created a new financial solutions advisory team under the leadership of Tim DeSett, the company's senior vice president, to expand its risk consulting services for corporate and private equity clients.

The financial solutions advisory team is expected to help clients to reduce the strain that large deductible programs can have on a company’s capital sources in addition to ensuring the most efficient financing of its risk. The company said that the new team will build on the firm’s existing risk finance capabilities and also track the success record in complex financial transactions.

John Lumelleau, president and CEO, said: We have seen increasing client demand for risk finance and collateral management strategies. Lockton’s financial solutions advisory team applies fundamental corporate finance principles to insurance issues, so companies can better manage their available lines of credit and increase their financial flexibility.