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Independent insurance broker Lockton is strengthening its Transaction Liability Group with the addition of Brian Collet and Dan Hoppe, each joining the group as Senior Vice President in the Representations and Warranties Insurance practice.
In his new role at Lockton, Collet will focus on the continued expansion of the company’s market-making secondaries practice, spanning product innovation, client development and policy negotiation.
He is joining the broker from Level 5 Capital Partners, where he most recently served as COO and General Counsel, following a prior role as General Counsel for a family office.
Collet began his career as a private equity lawyer at Nixon Peabody before spending over six years in a VP/Senior Legal Counsel role at Partners Group, where he advised the investment teams and negotiated operative documents in the private equity secondaries space.
“Our group has worked hard to create a viable market for Representations & Warranties Insurance and Tax Insurance in the secondaries space and we are quite proud of our results and market share to date,” said Matt Heinz, partner and co-practice leader in Lockton’s Transaction Liability practice.
He continued: “However, Brian’s arrival is a gamechanger and an example of our continued commitment to developing this specialty market, both in terms of client and carrier engagement; his skill set, and experience are truly unique to the transaction liability insurance community and will further set Lockton apart as a partner to our clients and an innovator for our insurers.”
Hoppe joins Lockton after a decade practising law at Kirkland & Ellis LLP, having spent the last five years as a Partner in the firm’s Private Equity M&A practice.
While holding this role, the executive was tasked with providing a full suite of M&A legal services to his fund clients and served as lead counsel on dozens of transactions at both the platform and portfolio company/add-on level.
Hoppe’s practice extended into significant work on R&W Insurance policies for his clients, and he gained a wealth of experience in negotiating R&W policies within the broader deal framework, with an eye to client concerns around coverage breadth and execution.
“R&W Insurance has become ubiquitous as a deal tool in the Private Equity community, and Dan’s experience negotiating R&W policies aligns perfectly with the level of thoughtful client service that we strive to provide at Lockton,” commented Joshua Halpern, also a partner and co-practice leader in Lockton’s Transaction Liability practice.
Adding: “Dan is an M&A expert first and foremost, but his wealth of experience in negotiating R&W insurance policies and in understanding his clients’ sensitivities and priorities in the R&W Insurance context is unmatched in our industry and will prove to be an incredible asset for Lockton’s clients.”
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