Insurance brokerage Willis Towers Watson (WTW) has received a licence to operate as a reinsurance broker in the Kingdom of Saudi Arabia (KSA).
Mohammed S AlSudairy has been named as the new head of Reinsurance Broking for WTW Saudi Arabia.
AlSudairy, who will now operate out of KSA, previously worked as the deputy CEO at Chedid Reinsurance Brokerage.
He has expertise in handling treaty, facultative and claims activities specifically tailored for the Saudi market.
WTW CEEMΕA head Eleni Lykoudi said: “We are excited to welcome Mohammed, whose leadership will play a key role in advancing our growth strategy in this dynamic, flourishing market. His appointment signals our commitment to the kingdom and the broader region. We are confident that his deep market insights will help us further innovate and deliver even greater value to our clients.”
AlSudairy added: “I am very pleased to join WTW during this important phase of expansion. Securing our reinsurance broker licence in Saudi Arabia positions us to deliver exceptional support and solutions to our clients throughout the kingdom.
“I look forward to building momentum, forging lasting partnerships and further strengthening WTW’s success in this dynamic market, while contributing to the ambitions of Saudi Arabia’s Vision 2030 goals and objectives.”
Earlier this month, WTW launched CyCore Asia, a cyber insurance facility aimed at businesses in Singapore and Hong Kong. The facility is underwritten by QBE Insurance Group and AXA XL and offers a primary insurance capacity of up to $15m.
CyCore Asia was developed in response to WTW’s Emerging and Interconnected Risk survey, which identified technology and cyber risks as key concerns for businesses across Asia.
“WTW gets reinsurance licence in Saudi Arabia ” was originally created and published by Life Insurance International, a GlobalData owned brand.
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