The latest news from Lockton for you;
Lockton, the world’s largest privately held insurance brokerage, has secured its reinsurance licence in the Kingdom of Saudi Arabia. This marks the next phase of Lockton’s geographical expansion and reflects the firm’s broader international strategy to deliver tailored facultative and treaty solutions to local insurance communities and in turn, serve their clients. This expansion connects Lockton’s global wholesale and reinsurance expertise, enabling Lockton to meet insurers’ growing requirements to deliver world-class capacity and solutions tailored to the evolving risk needs across Saudi Arabia.
The reinsurance business will be led by Mohammed Al Rowais. Mohammed brings over 15 years of experience in the Saudi insurance market where he has held senior roles at leading firms and is a member of the Kingdom of Saudi Arabia’s Insurance Authority’s General Insurance and Reinsurance Subcommittee. His leadership and deep local market knowledge will be integral to building facultative and treaty capabilities in the Kingdom.
Ata Khatib, Chairman, Lockton Middle East and North Africa, said:
“Our priority is delivering locally led reinsurance solutions that combine global expertise with market-specific insight and that meet the evolving needs of clients in Saudi Arabia. Mohammed’s experience and leadership will help us build the capabilities needed to offer end-to-end support, from complex facultative placements to treaty solutions, ensuring clients have access to the best advice and execution where it matters most.”
Chris Brown, CEO, Lockton International, commented:
“This licence strengthens our offering and ensures we are meeting clients where they need us, in Saudi Arabia and beyond, with the combined reach of Lockton and the specialist capabilities of our Lockton Re (treaty) business. Proximity to clients is at the heart of our strategy and this expansion reflects our commitment to being there for them as their risk and insurance needs evolve.”
Keith Harrison, International CEO, Lockton Re, added:
“Treaty (reinsurance) is increasingly about innovation, bringing analytics, capital solutions and agile program design to support growth and resilience. Under Mohammed’s leadership, our Saudi platform will elevate how we deliver treaty solutions in the Kingdom, ensuring Lockton sets the standard for leadership and innovation in this critical market.”
Lockton’s Saudi reinsurance operation builds on a team of specialists, bringing deep expertise in facultative and treaty solutions to support the local insurance market across the Kingdom.
This news follows Lockton’s expansion into Saudi Arabia and appointment of Mohammad Al Abdul Jabbar as CEO of Lockton’s Direct/retail business.
Be the first to comment