Global privately held brokerage firm Lockton Asia has announced the appointment of Ben Son as its new Chief Executive Officer in Korea.
Lockton, which provices insurance, risk management, people solutions and retirement consulting services, said Son will be succeeding current CEO Juyeol Lee as the company’s new CEO.
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.
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.
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