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

Lockton Expands into Saudi Arabia

Lockton, the world's largest privately held independent insurance brokerage, is set to strengthen its presence in the Middle East with a significant expansion into Saudi Arabia. This strategic move aims to bring tailored insurance solutions to a rapidly growing market, aligning with Lockton's broader international objectives to be close to clients and meet their evolving needs.

With Saudi Arabia's rising importance as a regional economic hub, the demand for risk management and insurance services has surged across various industries, including construction, energy, healthcare, and finance. Lockton's expansion is poised to provide clients with enhanced access to global expertise while maintaining a strong understanding of local market dynamics.

The company is kicking off its retail operations in Saudi Arabia with a skilled team of 20 insurance and risk consultants. This dedicated team is set to leverage the best practices from around the world while remaining sensitive to the underlying cultural and regulatory framework that characterizes the Saudi market.

In conjunction with this launch, Mohammad Al Abdul Jabbar has been appointed as the Retail CEO for Lockton in Saudi Arabia. With over two decades of experience in the insurance sector, Al Abdul Jabbar holds an impressive track record working in managerial roles across leading brokerage firms as well as local insurance companies. His expansive experience covers all aspects of the insurance value chain—from commercial lines to Islamic insurance, and the management of complex risk portfolios for international clients.

Moreover, he serves as Vice-Chairman of the Executive Committee of the General Committee of Insurance and Reinsurance Brokers in Saudi Arabia, further evidencing his deep commitment to the industry's growth and development within the Kingdom.

Faris Khatib, the CEO of Lockton Middle East and North Africa, highlighted, "Saudi Arabia is a critically important market for Lockton, and our expansion here reflects our long-term commitment to the region and our clients. The appointment of Mohammad brings to the forefront an exceptional combination of brokerage expertise, market knowledge, and customer-centered focus. His leadership will be vital for structuring our operations and enhancing client benefits across the Kingdom."

Chris Brown, CEO of Lockton International, commented, "Our growth at Lockton is driven by our belief in being where our clients need us most. Our entry into Saudi Arabia allows us to support business in one of the world’s most dynamic economies. We are excited to welcome Mohammad to our leadership team; his experience and entrepreneurial spirit align perfectly with Lockton's culture and our ambition to be the world’s most client-centric insurance broker."

Lockton prides itself on being a privately held company, empowering over 13,100 associates in more than 155 countries to focus exclusively on the risks and insurance needs of their clients. With its global perspective, Lockton is uniquely positioned to understand what it takes to deliver exceptional results. For more information, visit www.lockton.com.