Lockton Asia Appoints Ben Son as Korea CEO

SEOUL, SOUTH KOREA - Media OutReach - 1 November 2022 - Lockton, the world's largest privately held brokerage firm providing insurance, risk management, people solutions and retirement consulting services, has announced the appointment of Ben Son as Chief Executive Officer of Lockton Companies (Korea) Inc.

Ben Son will be succeeding current CEO Juyeol Lee as the company's new Chief Executive Officer. Juyeol Lee will remain President of Lockton Korea, working in conjunction with Ben and driving one of the key areas of the Korean business and various initiatives. Juyeol has been with Lockton Korea since 2001.

"We are excited to welcome Ben and his team to Lockton Korea, adding expertise and marketing capabilities in reinsurance and retail will unlock further opportunities for the company to deepen partnerships with the country's leading financial institutions. Combining the teams' expertise, reputation, relationships, and revenue, will result in continued acceleration of Lockton Korea's growth trajectory and position as a leading insurance brokerage," said Juyeol Lee, President of Lockton Korea.

Ben has 32 years of broad and successful experience in P&C, reinsurance and retail across the insurance brokerage industry. He established his own brokerage company, ESOP, in 2019 initially with a team of 8 specialising in reinsurance and retail, with clients from financial institutions, investment banks, asset management companies, private equity firms and more. The company recorded revenue of US$2.2 million in 2021.

Prior to setting up his own brokerage, Ben started his career in 1990 as an underwriter and adjuster in Marine insurance and gained extensive experience in P&C. He also held senior positions with HIS Korea, AON and Miller Korea. His key specialties include reinsurance for P&C, Engineering, Cargo, Hull, P&L and Treaty.

"As we welcome Ben, Lockton Korea will embark on another phase of the company's journey," said Warren Merritt, CEO of Lockton Asia, "Ben will be leading our Korean business with continued focus on reinsurance and retail operations. With him at the helm and strengthening the senior management team, we are confident in achieving great things by building on our operational excellence, reinforcing our collaborative culture, as well as raising our brand profile and industry standing."

Ben's business operating philosophy calls for transparent management with clear development opportunities for all employees. He believes hard work should be rewarded fairly. Ben holds a bachelor's degree in public administration from Korea University.

"I am honoured and truly proud to be appointed to lead the team at Lockton Korea. Its expertise, market position and especially its people, making it one of Korea's most dynamic insurance brokerages, offering what I believe is an unrivalled customer proposition in a rapidly evolving industry. I look forward to working with the team and in partnership with all stakeholders, to lead the business in this exciting market." said Ben Son, CEO of Lockton Korea.

Hashtag: #LocktonAsia

About Lockton Korea

Lockton Korea is a key member of the Asia operations of Lockton, a world-leading privately held insurance brokerage with 9,500+ associates doing business in over 125 countries, focusing primarily on clients' risk, insurance and people needs. With expertise that spans the globe, Lockton delivers the deep understanding needed to accomplish remarkable results. At Lockton, we are passionate about serving our clients, developing our associates, and giving back to our communities. For more information, please visit global.lockton.com/apac.