Lockton Acquires Benefits Communication Insourcing to Enhance Employee Experience

Lockton has agreed to acquire Benefits Communication Insourcing (BCI) to enhance employee experiences and benefits. BCI specializes in managing benefit communication and enrollment for HR departments. The financial details of the transaction remain undisclosed. The deal is contingent upon regulatory approvals and is expected to complete before year-end. Lockton reported global revenue of $4bn for FY22, a 13% increase from the previous year.

Lockton Companies, a leading privately held insurance brokerage and consulting firm, has announced its acquisition of Benefits Communication Insourcing (BCI). This strategic move aims to enhance Lockton's ability to design and implement innovative employee benefits strategies, thereby improving workforce experiences for clients [1][2].

The acquisition transitions full ownership to Lockton shareholders while ensuring seamless service continuity for clients. Lockton and BCI had previously held an ownership agreement, driven by shared values and a commitment to empowering organizations and enhancing employee wellbeing.

With BCI's expertise in managing benefit communication and enrollment for HR departments, Lockton will benefit from enhanced resources, tools, and capabilities to create effective and integrated benefits solutions. Clients can expect better access to cutting-edge systems and expertise, which will further drive meaningful results for their organizations.

Tim Ryan, U.S. President at Lockton, emphasized the foundational nature of this acquisition in delivering exceptional employee experiences. Ryan Grady, President of BCI, expressed enthusiasm about becoming part of the Lockton family, highlighting the potential for improved client outcomes.

The financial details of the transaction remain undisclosed. The deal is subject to regulatory approvals and is expected to close before the end of the year. Lockton reported global revenue of $4bn for FY22, a 13% increase from the previous year [1][2].

References:
[1] https://www.prnewswire.com/news-releases/lockton-announces-acquisition-of-employee-experience-company-302524568.html
[2] https://www.wvnews.com/news/around_the_web/partners/pr_newswire/industry/banking_financial_services/lockton-announces-acquisition-of-employee-experience-company/article_05fc2222-8a37-5883-a816-2ac3f1f4af94.amp.html