Lockton Companies has agreed to acquire Benefits Communication Insourcing (BCI) in a move aimed at strengthening its employee benefits services.
The transaction, which will transfer full ownership of BCI to Lockton shareholders, is expected to close before year-end, subject to regulatory approval.
Lockton and BCI have been linked through an ownership agreement, working together to improve employee experience and benefits communication for clients. By bringing BCI fully in-house, Lockton plans to integrate its technology, resources and expertise to deliver more comprehensive benefits solutions, the company said.
Tim Ryan, US president at Lockton, said the deal is “foundational to the exceptional employee experiences we strive to design for our clients,” adding that it will allow the firm to provide greater value.
Meanwhile, BCI president Ryan Grady said the acquisition will give clients “better access to resources and enhanced capabilities,” enabling the business to “raise the bar” in benefits delivery.
The acquisition comes amid a shift in the US insurance brokerage market, where large firms are expanding beyond traditional risk placement into services such as workforce wellbeing, data-driven benefits strategies, and employee engagement. Competitors including Aon, Marsh McLennan and Gallagher have also been investing in technology-enabled benefits platforms and communication tools to meet changing employer demands.
Lockton’s move to fully integrate BCI positions the firm to offer both broader benefits services and stronger data protection measures - two priorities the company said are increasingly intertwined in today’s employee benefits landscape.
