Lockton bags 4th year of double-digit growth in organic revenues

It climbed 14% YoY.

Independent insurance brokerage, Lockton, pencilled a revenue of $3.55b for its fiscal year ended 30 April 2024, a 14.9% year-on-year (YoY) climb.

Thanks to continued strength across all business segments and geographies. Lockton was able to achieve a recurring 96% client retention rate.

Further, its consolidated global revenue saw $3.55b, a 15% YoY increase. This was attributable to the 14% organic revenue growth. FY 2024 marks the fourth year in a row the firm recorded a double-digit organic global revenue growth and a five-year organic revenue CAGR of 15%.

Its international operations bagged $926m in revenue for the year, which was a 24% YoY surge, surpassing the five-year organic revenue CAGR of 16%.

“Looking forward into fiscal 2025 and beyond, Lockton remains well positioned to deliver upon its legacy of strong organic revenue growth. Importantly, Lockton maintains a conservative, all-weather capital structure that will allow us to continue to invest in our people and our clients. We will continue to invest in industry-leading talent and continue to develop our suite of capabilities and expertise we offer our clients,” Ron Lockton, Chairman and CEO said in a media release.