#Saudi Arabia #Riyadh #Lockton #Mohammad Al Abdul Jabbar

Lockton Enters the Saudi Arabian Market

Lockton, recognized as the largest independent insurance brokerage in the world, has taken a significant step by entering the Saudi Arabian market. This strategic move is part of Lockton's broader international initiative aimed at enhancing its presence in the Middle East. The company is keen to respond to the increasing demand for tailored insurance solutions in high-growth markets, demonstrating its commitment to proximity and adaptability to client needs.

The expansion reflects Saudi Arabia's growing stature as a regional economic powerhouse. With the rising demand for insurance services and risk management consultancy across various sectors such as construction, energy, healthcare, and financial services, Lockton's presence is set to provide clients with improved access to international expertise while being sensitive to local market specifics.

To kick off operations, Lockton Saudi Arabia has assembled a dedicated team of twenty professionals specializing in insurance and risk management. The local team is expected to deliver services grounded in internationally recognized best practices while having a good grasp of the Saudi market dynamics.

In conjunction with this expansion, Mohammad Al Abdul Jabbar has been appointed to lead the retail segment in Saudi Arabia. He brings over two decades of experience in the insurance brokerage field, having held significant leadership roles with foremost brokers and local insurers. His expertise spans the entire insurance value chain, from commercial underwriting and Takaful (Islamic insurance) to overseeing regional business development and managing complex insurance and risk portfolios for multinational clients.

Moreover, Al Abdul Jabbar serves as the Vice Chairman of the Executive Committee of the General Committee of Insurance and Reinsurance Brokers in Saudi Arabia, showcasing his strong engagement within the industry and his dedication to evolving the sector as a whole.

“Saudi Arabia is a key market for Lockton, and our expansion into this country reflects our long-standing commitment to the region and our clients,” stated Faris Khatib, Chief Executive Officer of Lockton for the Middle East and North Africa. “Mohammad’s appointment brings a robust blend of brokerage and insurance expertise, along with excellent market knowledge and a client-focused approach. His leadership will be critical for building our operations and delivering value to clients across the kingdom,” Khatib added.

Chris Brown, Chief Executive Officer of Lockton International, reiterated the importance of this expansion, stating, “Lockton's growth is founded on our belief that we must be where our clients need us most. Entering the Saudi market allows us to support businesses in one of the world's most dynamic economies. We are excited to welcome Mohammad to our leadership team—his experience and entrepreneurial mindset align perfectly with Lockton's culture and our ambition to be the most client-centric insurance broker globally.”

Lockton’s privately owned structure permits over 13,100 associates across 155 countries to focus exclusively on clients' needs in risk and insurance. With its global expertise, Lockton is equipped to offer deep insights necessary for achieving impressive outcomes for its clients. For more information, visit www.lockton.com.