Lockton reports 15% revenue increase for fiscal year

Lockton Cos. LLC Tuesday reported yearly revenue increased 15% to $3.55 billion for its fiscal year ended April 30, 2024.

The Kansas City, Missouri-based brokerage saw 14% organic revenue growth, the fourth consecutive year of double-digit organic global revenue growth, and had a 96% client retention rate, according to its earnings release.

U.S. operations reported revenue of $2.43 billion and 11% growth over the prior year, while international operations had revenue of $926 million and 24% growth, the earnings statement said.

Lockton said its reinsurance operations, Lockton Re, saw 35% year-over-year revenue growth without providing exact figures.

The broker said it expects continued organic revenue growth into 2025.