Lockton Companies is the world’s largest privately held global insurance broker, renowned for its commitment to client-centric services. In Hong Kong, Lockton Companies (Hong Kong) Limited, led by CEO Alex Yip, enjoys the unique advantage of independence from internal financial reporting, allowing the firm to prioritize providing the best advice and solutions to its diverse client base. Serving multinational corporations, local businesses, and professionals, Lockton Hong Kong offers expertise in risk management, insurance, employee benefits consulting, retirement solutions, and marine services.
Rapid Growth in the Greater China Region
Since expanding into Greater China—comprising China, Hong Kong, Macau, and Taiwan—Lockton has experienced remarkable business growth. From 2015 to 2020, the company’s turnover in the region surged by 300%, with China alone seeing a near 400% increase. The firm now operates in seven major cities: Beijing, Guangdong, Hong Kong, Kaohsiung, Macau, Shanghai, and Taipei. During this period, the number of associates has expanded from 70 to over 230, reflecting Lockton’s strong presence and increasing demand in the region.
Breaking Barriers and Leading by Example
With nearly 40 years of experience in building insurance brokering operations in Hong Kong and mainland China, Alex Yip has been instrumental in unifying teams across borders to share expertise and provide seamless services. As CEO of the Greater China region, he also plays a vital role as a member of the Asia Management Board, contributing to regional strategies and key business decisions.
Beyond business growth, Alex is dedicated to fostering an entrepreneurial culture within Lockton, encouraging employees to take ownership of their work and feel a sense of pride in their company. Under his leadership, Lockton has become an environment where employees are self-motivated to drive business success. His approach to leadership extends beyond the office, as he actively engages in community initiatives and encourages his associates to do the same.
“We effectively established the foundation of our CSR framework, multiplied our efforts in volunteering hours three-fold, and raised over HKD1,500,000 for charities since 2016,” Alex shares.
Sustaining an Ethical, Moral, and Caring Culture
Upon joining Lockton Hong Kong, one of Alex’s first initiatives was to establish a Corporate Social Responsibility and Recreation (CSRR) Committee. Recognizing that business is built on reputation, he ensured that Lockton maintained a strong focus on employee well-being and community support. Under his guidance, the company introduced workplace policies such as breastfeeding facilities, paternity leave, and flexible working hours.
Lockton Hong Kong also actively contributes to industry talent development through participation in programmes such as the Government Work and Learn Programme, the Greater Bay Area Youth Employment Scheme, and the Overseas Immersion Programme with Lloyd’s in the UK.
In addition to supporting its employees, Lockton is deeply committed to broader community causes. The company spearheaded a programme to promote inclusivity and raise funds for the Hong Kong Network for the Promotion of Inclusive Society (HKNPIS). Many of these initiatives are centered around sports, a passion of Alex’s, who personally participates in various CSR activities, inspiring his employees to follow suit.
During the COVID-19 pandemic, Lockton Hong Kong demonstrated its commitment to community support by sourcing corporate gifts from businesses in the hardest-hit industries, such as travel and dining. The firm’s charitable contributions span healthcare, education, social inclusion, and animal welfare, earning it industry recognition through the Industry Cares Award and the Caring Company Award in 2020 and 2021.
“The principle of practicing the Golden Rule and sustaining a highly ethical, moral, and caring culture has been a part of Lockton’s DNA since the 1980s. Giving back to the community is deeply embedded in our culture,” Alex emphasizes.
A Highly Recognized Leader in the Industry
Alex Yip’s leadership and contributions to the insurance industry have earned him numerous accolades. In 2021, he was named “Director of the Year” by The Hong Kong Institute of Directors (HKIoD) for his excellence in corporate governance and business leadership.
He was also elected Chairman of the Hong Kong Confederation of Insurance Brokers (HKCIB) for the 2021-22 term, where he played a crucial role in establishing licensing and disciplinary processes to uphold the integrity of the industry.
Alex serves as a member of the Expert Advisor Panel of the Insurance Authority, providing guidance on investigations and disciplinary matters. Additionally, he chairs the Industry Promotion/Talent Development Working Group of the American Chamber of Commerce in Hong Kong and is a Council Member of The Better Hong Kong Foundation, fostering leadership development in the insurance sector.
A Legacy of Leadership and Inspiration
Alex Yip’s leadership extends beyond corporate success—he embodies a growth mindset that shapes an entrepreneurial yet compassionate culture within Lockton. His hands-on approach to CSR has encouraged employees to actively participate in charitable initiatives, reinforcing Lockton’s reputation as a company that values people and community.
“Alex Yip never pushes his team towards excellence; instead, he exemplifies that excellence and inspires them to follow. In the industry, his leadership is demonstrated by the many initiatives he has spearheaded for change and improvement. Internally, he leads with a growth mindset to shape an entrepreneurial yet compassionate culture for the organisation. In the community, he nurtures thoughtfulness towards all by establishing a CSR framework to do charity and makes time to personally participate in its events,” says Shanggari Balakrishnan, CEO of MORS Group.
