Lockton Re targets Lloyd’s capital provision with hiring of Aon’s Mackay

Lockton Re, the reinsurance arm of the independent broking group, is striking out with a target to become an arranger and facilitator of capital access to the Lloyd’s marketplace, with the hire of well-known executive James Mackay as its first Head of Lloyd’s Capital.

Mackay was most recently at Aon and has spent years working with a focus on the provision of capital into Lloyd’s.

In his time working in this niche, Mackay has facilitated some of the biggest Lloyd’s capital deals in history, including working on the central fund deal and initiatives including London Bridge.

His work has also seen him helping insurance-linked securities (ILS) investors and funds gain access to the returns of the Lloyd’s market.

As a result, Mackay is a key hire for Lockton Re, as the reinsurance broker looks to enhance its presence in the Lloyd’s market at a time when that market’s results have been improving and so capital has become increasingly attracted to it, with a specialist that has deep investor and market connections.

At Aon, Mackay was the Head of Lloyd’s Relationships and also an Executive Director of Aon Securities, given the investment banking activity required to channel capital into Lloyd’s.

He has move than 30 years of market experience and began his career at Argenta Private Capital, becoming the Business Development Directory for Argenta Holdings, another Lloyd’s capital specialist firm.

Robert Bisset, Chairman of Global Retrocession & Property Specialty, Bermuda, and Market Capital, commented “James is an excellent hire for Lockton Re and adds to our impressive expertise in the capital solutions area. James has a phenomenal reputation in Lloyd’s and the London Market and will be a great fit for our dynamic culture as well as our focus on providing intelligent advice and thoughtful counsel to clients and markets.

“We continue to grow the depth and breadth of our teams by selecting specific talent to further our focus on clients, markets and colleagues.”

Mackay added, “I’m excited to be joining Lockton Re at a time when the Lloyd’s market is producing exceptional returns for capital providers. Lockton Re’s independence coupled with its unique culture will translate into market beating success for our clients and markets.”

Bisset concluded, “James will be working closely with David Reames and our global Capital Markets team to provide an extensive suite of capital solutions to our clients. As the expanded Lockton Re gets close to celebrating 5 years, we could not be happier with the progress we have made as a business, the excellent work we have undertaken for our clients and the global team we have built of outstanding expertise.”