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

Lockton Expands into Saudi Arabia

Lockton, recognized as the world's largest privately held independent insurance brokerage, has made significant strides in expanding its global footprint by entering the Kingdom of Saudi Arabia. This strategic move signals a commitment to enhancing its presence in high-growth markets across the Middle East. With the appointment of Mohammad Al Abdul Jabbar as CEO of Lockton’s retail operations in Saudi Arabia, the firm is well-positioned to cater to the diverse insurance needs of this burgeoning market.

A Strategic Expansion

The expansion into Saudi Arabia is reflective of Lockton's broader international strategy aimed at increasing proximity to clients and providing localized insurance solutions. This decision also acknowledges Saudi Arabia’s emerging role as a critical economic hub in the region. As demand for insurance and risk advisory services grows across key sectors such as construction, energy, healthcare, and financial services, Lockton seeks to deliver enhanced access to its global expertise, tailored specifically to local dynamics.

Lockton's Saudi Arabia operations have commenced with a specialized team of 20 insurance and risk advisors. This team is tasked with integrating global best practices into the local insurance landscape, ensuring that clients receive both comprehensive coverage and insightful local market understanding.

Leadership with Local Insights

At the helm of this new operation is Mohammad Al Abdul Jabbar, a seasoned expert in the insurance industry, boasting over 20 years of experience. His career trajectory has encompassed significant roles in both insurance broking and underwriting, equipping him with an in-depth understanding of the entire insurance value chain. Notably, Al Abdul Jabbar has previously held senior leadership positions at several prominent insurance firms and has been instrumental in managing complex insurance portfolios for multinational clients.

Additionally, Al Abdul Jabbar's involvement as vice chairman of the executive committee for the General Committee of Insurance and Reinsurance Brokers in Saudi Arabia underscores his commitment to advancing the insurance sector in the Kingdom. With his extensive network and profound industry knowledge, Al Abdul Jabbar’s leadership is expected to be pivotal in fostering Lockton’s operational growth and enhancing client relationships throughout the region.

Commitment to Client Needs

“Saudi Arabia is a critical market for Lockton, and our expansion here reflects our long-term commitment to the region and our clients,” expressed Faris Khatib, CEO of Lockton Middle East and North Africa. Khatib emphasized that Al Abdul Jabbar’s unique blend of broking and underwriting expertise, along with his deep market knowledge, will play a vital role in building robust operations tailored to client needs.

Chris Brown, CEO of Lockton International, further reiterated the firm's mission to strategically position itself where clients require support the most. “Expanding into Saudi Arabia allows us to assist businesses in one of the world's most dynamic economies,” he stated, celebrating the addition of Al Abdul Jabbar to the Lockton leadership team.

Conclusion

With its private ownership model empowering over 13,100 associates in more than 155 countries, Lockton is set to deliver unparalleled support to its clients. The firm’s commitment to understanding and addressing client risks and insurance needs as it navigates this new market demonstrates Lockton’s potential for continued growth and adaptation in the ever-evolving insurance landscape. This expansion marks an exciting new chapter not only for Lockton but also for the Saudi Arabian insurance market as it embraces enhanced innovation and expertise.

For more information and insights into the services offered by Lockton, visit www.lockton.com.