Lockton has pledged $1 million to support the Spencer Educational Foundation. The contribution, which will advance the Foundation’s mission of supporting the next generation of risk management and insurance professionals, was announced at the Foundation’s annual Funding Their Future Gala, which generated more than $1.9 million, a new high-water mark.

Underscoring the firm’s commitment to talent development, Lockton U.S. President Tim Ryan said the contribution will further bolster the Foundation’s ability to provide scholarships, internships, and experiential learning grants. Ryan was the honoree at the Gala, which was held Sept. 18 in New York.

“For decades, Spencer has played a critical role in preparing students for meaningful careers in our industry,” said Ryan. “Speaking with several Spencer Scholars was the highlight of the night. Some are the first in their families to attend college. Some are working multiple jobs to pay for school. Their determination is inspiring, and it reminds us that our role isn’t just about financial support—it’s about showing up with our time, our mentoring, and real-world experiences that set students up for success. This is a shared responsibility, and Lockton is proud to invest in the future of our profession by supporting the Foundation’s mission.”

Ryan also highlighted the industry’s ongoing need to attract and develop talent with a wide range of skills. “Insurance offers a broad and rewarding set of career paths,” he said. “The more we can arm students with experience, access, and support early in their careers, the stronger our industry will be in the years to come.”

Lockton has a long-standing partnership with Spencer. In 2004, following the passing of Lockton’s founder, the firm established the John T. Lockton Memorial Scholarship to honor his legacy and create opportunities for students entering the field of insurance. Since then, Lockton has contributed nearly $1 million in scholarships, along with mentoring and programming support.

“The results of this year’s Gala demonstrate the industry’s unwavering dedication to cultivate future talent,” said Johnell Holly, SVP at FM and Chair of the Spencer Board of Directors. “Lockton’s generous contribution on top of our Gala fundraising result amplifies the impact of these efforts and enables Spencer to expand its programming to meet the increasing needs of students and educators and to promote careers in insurance.”

Close to 600 senior insurance executives attended the Funding Their Future Gala to celebrate Spencer’s mission and invest in the talent pipeline critical to the industry’s long-term success.

With 87 cents of every dollar spent on programs that advance the mission, Spencer proudly focuses all efforts on the development of insurance industry talent. For additional information about the Spencer Educational Foundation and opportunities to contribute, please visit www.spencered.org.