It is leaving its current office at 19 St Vincent Place on August 8 and transferring to the imposing red sandstone Alexander Stenhouse Building at 145 St Vincent Street, several blocks to the west.

Lockton’s Partner and Head of Corporate, Gordon Duncan, said: “Lockton is investing £250,000 in the move to the new 4500 sq ft office, which will give us the capability to raise headcount from the present 15 to 40.”

In an unusual twist, the Stenhouse building is where Mr Duncan started his career in insurance. The late Alexander Stenhouse founded the eponymous Glasgow business in 1904; it grew into one of the UK’s major insurance broking organisations.

Mr Duncan said: “This move caps a period of exciting growth for Lockton in Scotland and demonstrates our ambition and the firmness of our intent to become one of the leading brokers in the corporate sector. Our message is that we are here to stay and here to grow.

“The new building in St Vincent Street is full of character and reflects our seriousness of purpose. We are dealing with multiple international accounts and the new office perfectly reflects Lockton’s position as a global broker.”

Mr Duncan joined Lockton after more than two decades providing risk management advice to corporate clients in several senior roles at major global brokers.

The Glasgow operation was established in 2014, and it now controls premiums in excess of £10 million. It has doubled its turnover in the year to April and has a client retention rate of 98%.

The firm is part of the Kansas-based insurer, Lockton Companies, which has more than $1 billion in revenue and in excess of 5000 employees in 64 offices throughout the world.