Reinsurance broker opens its doors in Riyadh with a group CEO nod towards the re/insurance opportunities created by KSA’s Vision 2030 strategy.

Howden Re has announced it is opening in Saudi Arabia.

Howden KSA

The re/insurance broker received regulatory approval this week to open its first operation in the GCC country.

Saudi expansion represents the 56th country where the broking group has a presence.

The new reinsurance broking business is to be led by Motaz Bukhari as CEO of Howden Reinsurance Brokers KSA.

Bukhari was previously a treaty reinsurance broker at rival intermediary Guy Carpenter, moving to KSA in 2023, and having previously worked in Dubai for Willis Re.

“Over the past few years, we’ve built up a strong relationship with the Kingdom as part of the UK Government’s Great Futures delegation, our work with Saudi EXIM Bank and, of course, our proud sponsorship of the Jockey Club of Saudi Arabia (JCSA), said group CEO David Howden, commenting via LinkedIn.

“But we know there is huge untapped opportunity out there. After all, this is a place that’s buzzing with potential. Not only is it one of the fastest growing economies in the G20 but it has an ambitious Vision 2030 which will require insurance if it’s to succeed in transforming the country,” he said.

“Howden Re KSA will provide reinsurance brokerage services across treaty and facultative placements as well as offering strategic advice on leveraging data, analytics and capital markets expertise,” Howden continued.

“Wherever we open up we look to partner with local businesses while recruiting home grown talent and our operation here will be no different. And, under the excellent leadership of Motaz Bukhari, I’ve no doubt Howden Re KSA will provide the expertise and alternatives our Saudi clients are after,” he said.

“I wish Motaz and his team every success as they throw open their doors to this fantastic market,” Howden added.

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