Lockton has announced leadership changes in Asia, naming Nicholas (Nick) Lee (pictured right) as CEO designate of Lockton Sime in Malaysia and Jaideep (Jay) Sharma (pictured left) as CEO of Lockton India, while transitioning Dr. Sandeep Dadia and Mohamed Yahya Ibrahim into non-executive and advisory roles, all subject to regulatory approval where required.

Leadership changes in Malaysia

In Malaysia, Lee will assume the CEO designate position at Lockton Sime as the broker revises its leadership structure across the region. His responsibilities will cover the Malaysian operation, including client relationships, local business management, and coordination with regional teams. Lee has more than 20 years of experience in the insurance sector across Malaysia, Australia, and Singapore. His background spans broking, risk management, analytics, catastrophe modelling, bancassurance, and strategic work. He previously worked at Lockton Singapore, where he was involved in arranging programmes for large projects and multinational clients.

Before returning to Lockton, Lee was director and head of client coverage, insurance solutions, Asia-Pacific, at Moody’s Analytics. In that role, he managed regional relationships with insurers, reinsurers, and intermediaries, focusing on catastrophe risk models, reinsurance optimisation, account and portfolio analytics, and the use of AI-enabled tools and digital platforms in underwriting and capital management.

Lee also founded a consultancy that advised carriers and brokers on emerging risks and business planning, with an emphasis on data and analytics across the insurance value chain. His experience includes work with C-suite executives, design, and placement of complex solutions, portfolio, and project oversight and mentoring of insurance professionals. As part of the same leadership shift, Mohamed Yahya Ibrahim will move into the role of special advisor to Lockton Sime. Yahya has led the Malaysian business for more than 12 years across two separate periods and will continue to support the operation in an advisory capacity.

New structure for Lockton India

In India, Lockton has adjusted the leadership framework at the brokerage it established in 2024. Founding CEO Dr. Sandeep Dadia has moved into a non-executive officer role, maintaining a formal connection with the firm while stepping back from daily management responsibilities. Lockton said Dadia helped guide the entity from its launch as a newly licensed broker through to full operational status, including the development of its local operations and client base. The company noted that he plans to pursue other entrepreneurial activities while remaining associated with Lockton India in a governance and advisory capacity.

Sharma has been appointed CEO of Lockton India, subject to regulatory clearance, and will continue in his existing position as regional head of specialties for Lockton Asia. Based in Mumbai, he will oversee the Indian operation and link it with Lockton’s regional specialties platform, including facultative and complex risk solutions. Sharma began his career at Marsh Aviation and later became CEO of Marsh Saudi Arabia. He subsequently joined Aon, where he served as market leader for Connecticut and oversaw a 250-person operation across risk, health, wealth, and human capital. His experience covers specialties, facultative reinsurance, and management of multinational account portfolios, along with responsibility for team development and office performance. “Nick and Jay represent the very best of our industry – leaders with deep expertise, global perspective, and an uncompromising commitment to putting clients first,” said Tony Hardy, CEO of Lockton Asia.

Malaysian non-life market outlook

The leadership updates coincide with ongoing expansion in Malaysia’s general insurance market. GlobalData projects that Malaysian non-life direct written premiums will rise from MYR22.6 billion (about US$5 billion) in 2024 to MYR30.5 billion (about US$6.8 billion) in 2028. This represents a compound annual growth rate of 7.8% over the period.

Growth trends in India’s general insurance sector

India’s general insurance market is expected to record stronger absolute premium growth over the medium term. GlobalData forecasts that general insurance gross written premium will increase from INR3.6 trillion (approximately US$43.4 billion) in 2026 to INR5.4 trillion (around US$62.2 billion) in 2030, implying a projected compound annual growth rate of 10.0%.