Howden, a leading London-based insurance intermediary, has received approval to establish a reinsurance operation in Saudi Arabia. This move marks a significant step in the company’s regional expansion efforts.
Motaz Bukhari, an industry veteran with over a decade of experience, will serve as CEO of Howden Re in Saudi Arabia. Bukhari’s background spans leadership roles in reinsurance broking and underwriting, as well as an early career as an engineer with Saudi Aramco.
The new entity will offer reinsurance brokerage services, including treaty and facultative placements, alongside strategic advice utilizing data, analytics, and capital markets expertise tailored for the Saudi market. Howden aims to collaborate with local partners and invest in Saudi talent to scale operations efficiently.
Company leaders highlighted the strong growth and ambitious vision of Saudi Arabia, emphasizing the country’s potential for insurance sector development. Howden’s existing partnerships in the Kingdom and involvement in major initiatives signal a long-term commitment to delivering innovative solutions and fostering local expertise.
With a global presence in 56 countries and a workforce of 22,000, Howden continues its growth trajectory, managing premiums totaling $45 billion worldwide.