Jan 13, 2022, 08:15 ET

Lockton Served as President, CEO, and Chairman of Lockton Companies

NEW YORK, Jan. 13, 2022 /PRNewswire/ — Obsidian Insurance Holdings, Inc. (“Obsidian”), an insurance holding company that, through its A.M. Best Rated “A-” insurance carrier subsidiaries, is focused on facilitating and supporting growth in specialty programs, announced today the appointment of insurance industry leader David Lockton to its parent company’s Board of Directors.

William Jewett, Chief Executive Officer of Obsidian, commented, “Dave Lockton is a tremendous addition to our Board. What he has been able to accomplish in building The Lockton Companies into a global powerhouse is truly remarkable, and we expect to significantly benefit from his knowledge, insight, and experience as we continue to build Obsidian into the pre-eminent hybrid program carrier.”

For nearly four decades, Mr. Lockton has served as President, CEO, and then Chairman of Lockton Companies. He is currently Lead Director of Lockton, Inc., where he sets the company’s strategic vision, providing transformational leadership and fostering the entrepreneurial culture that has positioned Lockton as the largest privately owned, independent insurance brokerage firm in the world.

Ryan Clark, President and Managing Director of Genstar Capital, which helped form Obsidian in 2020, said, “Dave is an industry visionary who understands the importance of exceptional client service, and we are delighted to welcome him to our Board. Given his deep industry knowledge and extensive leadership experience in building Lockton, his insights will be of great value as we work with Bill to strategically and profitably build Obsidian’s platform.”

“Obsidian and the Genstar team have created a great solution to an underserved part of the market.  I look forward to actively engaging with the Obsidian team to grow and scale this dynamic and valuable addition to the marketplace,” added Lockton. “I am looking forward to working with Craig and Bill who are admired and have a strong following in our industry.”

Obsidian Insurance Group carries an “A-” financial strength rating from A.M. Best.  The Company significantly invested in building infrastructure and a team to expand its hybrid fronting business partnerships and recently launched several insurtech products, leveraging the Obsidian management team’s strong technical expertise to work closely with partners from infancy regarding the overall program design and key program fundamentals.