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

Lockton Expands into Saudi Arabia

Lockton, a globally recognized name in the insurance brokerage field, has announced a significant expansion into Saudi Arabia, reinforcing its commitment to providing localized insurance solutions in rapidly growing markets. This strategic move comes as part of Lockton's broader international growth strategy, emphasizing the importance of being close to clients and understanding their unique needs in a dynamic business environment.

Key Reasons for Expansion

Saudi Arabia has increasingly become an economic powerhouse in the Middle East, and this expansion reflects Lockton's desire to tap into the rising demand for insurance and risk advisory services across various sectors, including construction, energy, healthcare, and financial services. The presence of Lockton in the region will enable local businesses to benefit from global expertise presented through a local lens, ensuring they are equipped to navigate the evolving risk landscape effectively.

To spearhead its retail operations in Saudi Arabia, Lockton has appointed Mohammad Al Abdul Jabbar as CEO. Al Abdul Jabbar's rich background in insurance spans over two decades, during which he has occupied leadership roles in both brokerage and underwriting, working with prominent companies in the sector. His extensive experience encompasses the entire insurance value chain, from commercial insurance to Takaful, as well as managing complex risk and insurance portfolios for international clients. This breadth of knowledge positions him uniquely to lead Lockton’s Saudi operations.

Vision and Leadership

As a key figure within the insurance community, Al Abdul Jabbar also serves as the Vice Chairman of the Executive Committee for the General Committee of Insurance Brokers and Reinsurers in Saudi Arabia. This involvement underscores his commitment to the growth and development of the sector and highlights the confidence placed in him by the industry.

Faris Khatib, CEO of Lockton in the Middle East and North Africa, commented on the significance of this appointment, stating, “Saudi Arabia is a critical market for Lockton, and our expansion signifies our long-term commitment to the region and to our clients. Mohammad brings a strong blend of brokerage and insurance experience, an in-depth understanding of the market, and a client-centric approach. His leadership will be vital in driving our business forward and delivering value to clients throughout the Kingdom.”

Furthermore, Chris Brown, CEO of Lockton International, emphasized the company’s philosophy of being where their clients need them the most. He added, “Our expansion in Saudi Arabia 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 spirit align perfectly with Lockton’s culture and our ambition to be the most client-focused broker in the world.”

The Lockton Approach

Lockton distinguishes itself through its private ownership structure, allowing over 13,100 associates operating in more than 155 countries to concentrate solely on their clients' risk and insurance needs. With a wealth of global expertise, Lockton offers deep insights essential for achieving exceptional results in the insurance sector.

As Lockton moves forward with its operations in Saudi Arabia, it aims to roll out a comprehensive retail insurance program supported by a dedicated team of 20 specialists and risk consultants. This approach ensures clients will have access to best-in-class global practices while being well-informed of local market nuances.

In conclusion, Lockton's expansion into Saudi Arabia marks a significant milestone in the company's journey towards global growth, reflecting its unwavering commitment to client service and the need for customizable insurance solutions in rapidly evolving markets. For more information about Lockton and its services, visit www.lockton.com.