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Jeremy England Lee appointed as Chairman, Lockton Re Bermuda, as Lockton Re continues to build out senior capabilities in the Bermuda office.  London, October 28th, 2026 — Lockton Re, the reinsurance business of Lockton, the world’s largest privately held independent insurance broker, today announced the appointment of Jeremy England Lee in a new role as Chairman, Lockton Re Bermuda. England Lee joined Lockton Re’s Non-Marine Retrocession and Property Specialty division in June 2021, supporting the build out of this division that operates as a unified, global team principally across London, Bermuda and the US.  England Lee has nearly five decades of industry experience starting his career in 1978 at Lloyd’s D.E. Harman Syndicate. He then moved to CT Bowring which later became Carpenter Bowring, holding key positions in Facultative, North American Treaty and Retrocession, before joining Benfield as a Director in 1996. He later became part of the Global Re Specialty team at Aon before joining Lockton Re. Tim Gardner, Global CEO, Lockton Re, said: “Jez is the perfect candidate for this newly created role. He is already well known in Bermuda and has been a champion of the unique culture of collaboration at Lockton Re for many years. We appreciate the opportunity that persists in Bermuda and we are committed to ensuring that we have the right leadership and team to support the multi-faceted opportunity on the Island. This new role is the first step in our investment plans and key appointments for Lockton Re Bermuda as we support clients through another busy January 1st renewal. I am incredibly proud of the strength and momentum of Lockton Re, and Bermuda continues to be a vital geography for our continued success.” Commenting on his new role, Jeremy England Lee, said: “The prospect of building on the time I have spent with the team in Bermuda and working even more closely with colleagues visiting the Island and other team members including Partners based there; Tom Parcell and Ben Ryan, is both exciting and motivating. I look forward to expanding our support for on-Island business, and global clients, as we deliver on our planned investment and focus on this key Lockton Re hub that connects many of our capabilities and areas of expertise.” Matt Foreman, Head of Non-Marine Retrocession and Property Specialty, concludes: “Jez has a significant market profile and a proven track record of producing, placing and servicing some of the largest global clients. With over 45 years of market experience, he combines this with a strong focus on collaboration and talent development. He has been instrumental in shaping our Non-Marine Retrocession and Property Specialty capabilities and building our broad portfolio since joining Lockton Re over five years ago. His experience, skillset and network position us well as we build on our global momentum across all lines of business to compound our position in Bermuda. We are excited to see Jez succeed in this newly created role, helping to drive growth alongside our current partners and leaders within the office.”  Subject to obtaining appropriate approvals, England Lee is expected to relocate in early 2027.  Lockton Re plans to make additional announcements in relation to its’ Bermuda office over the coming weeks and months. 

Jeremy England Lee appointed as Chairman, Lockton Re Bermuda, as Lockton Re to build out senior capabilities in the Bermuda office. 

A view of the capital city, Hamilton, on the island of Bermuda. Waterfront view.

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Jeremy England Lee relocates to Lockton Re Bermuda office in new role as Chairman

Rob McNamara appointed Chairman, North America Facultative; Craig Wadman named Facultative Leader, North America, with Michael Pope, Jimmy Gulick, Aaron Augustyniak, and Sterrett Woods appointed to senior Casualty and Property Facultative roles in North America. New York, September 14, 2026 — Lockton Re, the reinsurance business of Lockton, the world’s largest privately held independent insurance broker, today announced several North American Facultative appointments, effective immediately: Rob McNamara, Chairman, North America Facultative  Craig Wadman, Facultative Leader, North America Michael Pope, Co-Leader Casualty Facultative, North America Jimmy Gulick, Co-Leader Casualty Facultative, North America Aaron Augustyniak, Co-Leader Property Facultative, North America Sterrett Woods, Co-Leader Property Facultative, North America  These appointments sharpen Lockton Re’s client-centric North American Facultative offering, strengthening a high-growth platform built to deliver specialist property and casualty expertise across North America. “Clients are looking for partners who can combine technical depth with responsive execution and strong market relationships. Rob has been instrumental in shaping that approach within our North American Facultative platform, and this expanded leadership structure gives us even greater focus as we continue advancing the business. With Rob, Craig, and the broader leadership team in these roles, we are well positioned to build on our momentum and deliver for clients,” said Jeff Fleming, Managing Partner and Head of Property & Casualty, North America. With more than three decades of facultative and treaty property and casualty reinsurance experience, Rob McNamara joined Lockton Re in 2021 and has played a key role in the build out of the Lockton Re Facultative platform. As Chairman, North America Facultative, he will advise on the overall Facultative strategy across North America. Craig Wadman joined Lockton Re in 2022 with more than 20 years of expertise across Facultative and Programs. As Facultative Leader, North America, he will lead the Facultative team, focused on delivering exceptional client service and value. “The strength of our North American Facultative platform comes from the caliber, expertise, and collaboration of our team, whose focus on clients and market-leading execution continues to set Lockton Re apart,” said Robert Bisset, CEO, North America, Lockton Re. Lockton Re’s North American Facultative business provides specialized reinsurance placement and advisory services across property and casualty risks, helping clients access capacity, manage complex exposures, and develop effective risk transfer strategies. It is a clear market leader, with an extensive roster of over 200 clients, reflecting Lockton Re’s continued investment in specialist expertise. Jeff Fleming concluded, “One of Lockton Re’s strengths is bringing the right talent to every client. Rob, Craig, Michael, Jimmy, Augie, and Sterrett embody that approach, and I am excited to see them continue building on their achievements and contributions in these expanded roles.”

Rob McNamara Chairman, NA Fac; Craig Wadman named Fac Leader, NA, with Michael Pope, Jimmy Gulick, Aaron Augustyniak, and Sterrett Woods appointed to Sr Cas & Prop Fac roles in NA.

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Lockton Re Strengthens North American Facultative Leadership with Senior Appointments

Scenario modelling in When the Lights Go Out: Cyber’s Infrastructure Blind Spot shows a potential 20% relative decrease in industry loss ratios at the 1-in-50 return period, depending on how the clauses are drafted and interpreted.  
MONTE CARLO, 7th September, 2026 — Lockton Re, the reinsurance business of Lockton, the world’s largest privately held independent insurance broker, has published a report finding that critical infrastructure clauses in cyber insurance are inconsistent across the market. The report, When the Lights Go Out: Cyber’s Infrastructure Blind Spot, examines how those clauses have evolved, how they are applied, and how they are interpreted across the cyber insurance and reinsurance market.  Critical infrastructure presents systemic exposures for the cyber market. Those exposures — spanning utilities, telecommunications and financial infrastructure — sit beyond the scope of the current market.  Lockton Re modelled a range of scenarios to illustrate the potential impact of critical infrastructure clauses in cyber insurance. The modelling demonstrates a potential 20% relative decrease in industry loss ratios at the 1-in-50 (1:50) return period. The figure illustrates the range of outcomes that clause wording can produce; it is not a forecast of any single event.  Oliver Brew, Head of Cyber Centre of Excellence at Lockton Re and co-author of the report, said: “The clauses have been neglected in the wake of the industry discussion of cyber war clauses. Clarity of intent for critical infrastructure is key to understanding where the boundary lies of what is insurable. Our review of current critical infrastructure clauses identified significant inconsistencies and shortcomings across the market. The result is uncertainty for insurers, reinsurers, brokers and policyholders alike." What a critical infrastructure clause is                                                                                                                                                A critical infrastructure clause defines which infrastructure sectors — such as utilities, telecommunications and financial infrastructure — fall outside, or are limited within, the scope of a cyber insurance or reinsurance policy. It is the wording that sets the boundary between the cyber risk the market is prepared to carry and the systemic exposure it is not. Definitions of critical infrastructure have been updated over time, often in response to specific cyber-attacks, but the language inevitably falls behind the technology it describes.  What the report found  Critical infrastructure clauses in cyber insurance are inconsistent across the market. Lockton Re’s review of current wordings identified significant inconsistencies and shortcomings.  The ambiguity creates uncertainty for insurers, reinsurers, brokers and policyholders alike.  Scenario modelling demonstrates a potential 20% relative decrease, or 15-point loss ratio reduction in industry loss ratios at the 1:50 return period.  The clauses have been neglected in the wake of the industry discussion of cyber war clauses.   Governments are increasingly treating data centres as critical infrastructure. That presents a new challenge for insurance products, which must be clear about the coverage they maintain as the definition widens. 
 How the report was researched 
Lockton Re engaged with participants across the market, including insurers, reinsurers, brokers and industry associations.  
Laura Betts, Cyber Account Executive at Lockton International and co-author of the report, said: “We engaged with participants across the market including insurers, reinsurers, brokers, and industry associations to provide insights. With the rapid advancement of new technology, insurance policy language has failed to keep up with the changes in the ways technology is used.”  Oliver Brew added: “There is an urgency to ensure that the intent of these clauses is aligned with the reality of how they can be interpreted. It is incumbent on the whole industry to improve the clarity of what is intended in order to enhance the industry’s reputation.” 
 
What Lockton Re is asking the market to do 
The report sets out a four-point call to action: 
 Evaluate what constitutes critical infrastructure across key areas.  Consider whether other categories of critical infrastructure should be addressed.  Review current critical infrastructure clauses to ensure that language is consistent and matches the intent behind it.  Assess the language framework through the lens of rapidly changing technology, to ensure it remains fit for purpose.  
Ed Le Flufy, Global Head of Cyber at Lockton Re, concluded: “As new technologies proliferate and aggregation potential grows, the definition of what constitutes critical infrastructure and clarifying the coverage afforded by the market is essential to sustainable growth.”  Lockton Re’s position is that critical infrastructure clauses in cyber insurance should say the same thing across the market and should say what they are intended to say. Click here to read the report.  

Lockton Re has published a report finding that critical infrastructure clauses in cyber insurance are inconsistent across the market. 

Global network communication on a dark blue background.  (City Lights 2012 - Flat map -https://images.nasa.gov/details-GSFC_20171208_Archive_e001589, Blue Marble: Clouds - https://visibleearth.nasa.gov/images/57747/blue-marble-clouds/57751l)

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