Lockton seals Jhasa deal for growth in Spanish market

Lockton has agreed a partnership with Spanish independent broker Jhasa, which specialises in construction, energy and M&A risks, to boost growth in Spain.

Under the terms of the agreement, Jhasa will become Lockton’s partner for global commercial insurance and people solutions business in the country.

“The partnership will form a central pillar of Lockton and Jhasa’s growth and investment strategies in Spain, strengthening their collective opportunities,” Lockton said.

Jhasa will work with Lockton’s existing customers and offer Lockton access to Jhasa’s team of specialists. Jhasa will become a partner in the Lockton Global Partnership and benefit from access to Lockton’s product suite and risk management expertise, the companies said.

EJ Hentenaar, European CEO at Lockton, said Jhasa has an unrelenting focus on client service, underpinned by a recognition and commitment to independence and the benefits this affords the company.

“Their approach has seen them rapidly become the broker to watch in Spain, with an enviable client base that is enabling them to expand to support Spanish businesses internationally,” he added.

Hentenaar said the partnership agreement marks a milestone for Lockton’s business operations in Spain.

Chris Brown, chairman Lockton Global Partners, said: “Jhasa is an ideal partner, the team is entrepreneurial, agile and the expertise across their business is impressive. Making this partnership a reality has been a shared goal for some time. I am certain that the combination of Lockton’s global footprint and broad product suite will provide Jhasa with the firepower to realise its ambitions, while its second-to-none market relationships will enable us to fast track our growth plans for Spain and for Spanish interests abroad.”

Juan Hurtado de Amézaga and Juan Sánchez de Amoraga, who co-founded Jhasa in 2019, said the partnership will take Jhasa’s growth to the next level.

“When we launched Jhasa, our goal was to become one of the leading independent brokers in Spain, looking after large Spanish corporate clients, who were seeking more than a standard transactional broker. This strategic partnership is a very big step in making that goal a reality,” they said.

“It is a win for Jhasa, Lockton and for businesses across Spain that are pursuing their own international ambitions,” they added.

The news follows Lockton’s plans to expand in Norway with new energy and employee benefits divisions.