Global insurance broker Lockton Cos. Inc. is setting up shop in Bermuda.

The Kansas City-based company has hired three staff with great experience of the Bermuda insurance market — Ed Correia, William Lowe and Philip DiMeglio — to head its operation.

The new office will will focus on property, energy, financial lines, casualty and health care.

"Bermuda has been a magnet for insurance capital since the losses of 9/11 and more recently the 2005 hurricane season," Paul Jack, chairman of Lockton International's Global Risks, said in the release. "As we develop our global footprint, we felt it was essential to provide our clients with direct access to this important market."

Lockton claims to be the largest independent, privately owned, global insurance broker and employs more than 3,800 people. It was founded by Jack Lockton in Kansas City, Missouri 41 years ago and from a modest, home-based insurance agency, has become one of the largest insurance brokers in the world.

Mr. Correia started his career in Bermuda in 1977 with AIG, before joining Reed Stenhouse (subsequently acquired by A&A) where he was responsible for captive operations. In 1992 he joined Marsh where he was promoted to managing director, property manager and deputy head of office.

William Lowe began his career with Alexander Howden and has also worked with Bain Clarkson and Jardine Insurance Brokers International as an energy market broker.

Later, at Newman, Martin and Buchan he was a main bard director responsible for running the Facultative Energy Division.

Mr. Lowe joins Lockton from Aon (Bermuda) Ltd, where he worked from August 2002.

Philip DiMeglio began his career with Marsh in 1996 as a placement broker specialist and transferred to Marsh's Bermuda office in 1999 where he was responsible for the marketing and product development of the newly formed insurance companies.

Mr. DiMeglio subsequently joined JLT Risk Solutions as a partner for the handling of Bermuda management liability products to US independent retailers' clients and prospects.