Lockton Companies’ global reinsurance unit, Lockton Re has launched a new business unit, named Lockton Re Capital Markets (LRCM).

The new business will be a specialist unit for capital markets and insurance-linked securities (ILS) activities.

It has been designed to serve clients by accessing broader pools of capital and provide complementary solutions to existing client offerings.

To be headed by Zachary Breslin, LRCM is expected to provide a complete suite of capital agnostic services, that include a wide range of execution abilities in ILS.

Lockton Re, Bermuda & Market Capital Global Retrocession & Property Specialty chairman Robert Bisset said: “This investment underscores our commitment to building a world class reinsurance business, capable of accessing all capital providers, across all product categories to service our clients.

“Pending regulatory approval, LRCM will be fully integrated into our broader reinsurance business, except as restricted by regulatory compliance.

“Our clients will see one client team. Our bankers and brokers will be solution agnostic as we are committed to our Fierce Independence ethos, which means we are focused on serving clients’ interests foremost.”

Zach Breslin said that the company will use its technology driven approach and deep subject matter expertise to help clients move quickly in accessing capital for executing their business plans throughout market cycles.

The new LRCM unit will become operational upon receipt of all regulatory approvals.

It will onboard execution capabilities in certain products and location to help clients through the key 2023 renewal dates.