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

Lockton's Expansion Into Saudi Arabia

Lockton, the world's largest privately-owned independent insurance brokerage, recently announced a significant move into Saudi Arabia as part of its strategic initiative to enhance its presence in the Middle East. This expansion is designed to allow Lockton to be closer to its clients while providing tailor-made insurance solutions for high-growth markets.

This major entry into the Saudi market comes as the country continues to assert its role as a regional economic powerhouse. Recognizing the increasing demand for insurance and risk consulting services across vital sectors like construction, energy, healthcare, and financial services, Lockton aims to furnish its clients with broad access to global expertise adapted to local needs.

To kick off its retail operations in Saudi Arabia, Lockton is launching a team of 20 specialists skilled in insurance and risk management. This strategic approach ensures that clients will benefit from both global best practices and an in-depth understanding of the local market.

Leading this initiative, Mohammad Al Abdul Jabbar has been appointed as the CEO of Lockton’s retail operations in Saudi Arabia. With over two decades of experience in the insurance sector, Al Abdul Jabbar has held various senior positions in prominent insurance brokerages and companies. His career spans the entire spectrum of the insurance value chain, from commercial line underwriting to Takaful, not to mention steering business development in the region and managing complex portfolios for multinational clients.

Notably, Al Abdul Jabbar also serves as the Vice President of the Executive Committee for the General Committee of Insurance and Reinsurance Brokers in Saudi Arabia, underscoring his profound knowledge of the industry and his commitment to its growth.

Faris Khatib, CEO of Lockton for the Middle East and North Africa, is optimistic about the future: “Saudi Arabia is a key market for Lockton, and our expansion signifies our long-term commitment to the region and our clients. Mohammad’s appointment brings a solid blend of brokerage and underwriting experience combined with deep market insights and a client-focused mindset. His leadership will be critical in developing our operations and delivering value to clients throughout the Kingdom.”

Moreover, Chris Brown, CEO of Lockton International, emphasized, “Lockton’s growth is based on our belief in being where our clients need us most. Expanding into Saudi Arabia enables us to support businesses in one of the most dynamic economies in the world. We are happy to welcome Mohammad into our leadership team; his expertise and entrepreneurial spirit align perfectly with Lockton's culture and our ambition to be the most client-centric brokerage globally.”

With a workforce of over 13,100 professionals in more than 155 countries, Lockton's private ownership structure enables it to remain laser-focused on the risk management and insurance needs of its clients, fostering exceptional outcomes.

For further information on Lockton, visit Lockton's website.