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

Lockton Expands into Saudi Arabia

Lockton, known as the largest independent insurance brokerage in the world, has recently announced its entry into the Saudi Arabian market. This significant expansion underscores the company's strategy to enhance its presence in the Middle East and better serve clients in this region.

Strategic Expansion

The decision to establish operations in Saudi Arabia is part of Lockton’s broader international strategy aimed at being closer to its clients while providing tailored insurance solutions in key growth markets. The Middle East has been identified as a cornerstone of this strategy, where Lockton plans to invest in local leadership, capabilities, and technology to help businesses navigate the constantly evolving risk landscapes in the region.

The growing economic influence of Saudi Arabia makes it an essential market for Lockton. The demand for insurance and risk advisory services is particularly strong in sectors like construction, energy, healthcare, and financial services. Therefore, this expansion is poised to offer clients enhanced access to global expertise delivered through a localized perspective.

Expert Leadership

Launching its operations in Saudi Arabia, Lockton has assembled a dedicated team of 20 insurance and risk specialists who will ensure that clients benefit from both global best practices and a firm understanding of the local market. At the forefront of this endeavor is the newly appointed CEO for retail operations, Mohammad Al Abdul Jabbar.

With over two decades of experience in the insurance industry, Al Abdul Jabbar has held senior positions at leading insurance brokers as well as local insurers. His career encompasses a comprehensive understanding of the insurance value chain—from underwriting commercial lines and Takaful to directing regional business development and managing complex insurance and risk portfolios for multinational clients.

In addition to his role at Lockton, he serves as the vice president and chairman of the executive committee of the General Committee of Insurance Reinsurance Brokers in Saudi Arabia, reflecting his deep commitment to the industry and dedication to advancing the sector.

Commitment to the Region

Faris Khatib, CEO of Lockton Middle East and North Africa, emphasized the importance of this market, stating, "Saudi Arabia is a crucial market for Lockton, and our expansion here reflects our long-term commitment to the region and our clients." He noted that Al Abdul Jabbar’s leadership combines brokerage expertise, market understanding, and a customer-focused mindset, essential for developing operations and delivering added value to clients across the Kingdom.

Chris Brown, CEO of Lockton International, added, "Our growth is driven by the belief that we need to be where our clients need us the most. Expanding into Saudi Arabia allows us to support businesses in one of the most dynamic economies in the world. We are excited to welcome Mohammad to our leadership team, as his experience and entrepreneurial spirit align perfectly with Lockton's culture and our ambition to be the most client-oriented insurance broker globally."

Conclusion

As Lockton embarks on this venture, their focus remains keenly on delivering exceptional service and expertise tailored to the unique needs of the Saudi market. This expansion is a strategic step toward establishing a lasting presence in one of the fastest-growing economic hubs, ensuring that clients receive both local insights and global knowledge in their insurance needs.