#United States #Saudi Arabia #Kansas City #Lockton #Mohammad Al Abdul Jabbar

Lockton Expands to Saudi Arabia

Lockton, recognized as the world’s largest private independent insurance brokerage, has announced a significant milestone in its global strategy: the expansion into Saudi Arabia. This move not only enhances Lockton’s presence in the Middle East but demonstrates the firm’s commitment to serving clients across critical regions. With the appointment of Mohammad Al Abdul Jabbar as the CEO for the Retail Operations in Saudi Arabia, Lockton aims to offer tailored insurance solutions that cater to the dynamic market needs.

The expansion aligns with Lockton's broader international strategy which focuses on being closer to clients. By establishing operations in Saudi Arabia, Lockton seeks to tap into the burgeoning demand for insurance advisory services across various sectors, including construction, energy, healthcare, and financial services. Each of these industries is experiencing rapid growth, reflecting the Kingdom's evolving economic landscape.

Strategic Significance of Saudi Arabia

Saudi Arabia has emerged as a pivotal economic powerhouse in the region. The burgeoning demand for expert advisory and risk management services in burgeoning sectors underscores the necessity for Lockton's entrance into this market. By venturing into Saudi Arabia, Lockton aims to enhance clients’ access to global expertise tailored to local conditions. This is especially critical as businesses navigate a complex risk environment shaped by both regional and global influences.

Lockton's new retail operation in Saudi Arabia will be supported by a dedicated team of 20 insurance and risk specialists. This local expertise will ensure clients benefit from a rich mix of global best practices while leveraging an intimate understanding of the local market nuances. The goal is to position Lockton not just as a service provider but as a proactive partner in navigating risks and challenges.

Leadership Under Mohammad Al Abdul Jabbar

Mohammad Al Abdul Jabbar, who has been tasked with leading Lockton's operations in Saudi Arabia, brings a wealth of experience to the role. With over two decades of expertise in both insurance brokerage and underwriting, Al Abdul Jabbar has held prominent positions at leading brokerage firms as well as local insurance companies. His extensive background covers the entire spectrum of the insurance value chain, from underwriting commercial insurance products to directing regional business development strategies.

In addition to his professional accomplishments, Al Abdul Jabbar serves as the Vice Chairman of the Executive Committee of the General Committee of Insurance and Reinsurance Brokers in Saudi Arabia, emphasizing his commitment to advancing the insurance industry in the Kingdom and his deep involvement in sector development.

Faris Khatib, CEO of Lockton for the Middle East and North Africa, remarked, "Saudi Arabia is a key market for Lockton, and our expansion here reflects our long-term commitment to this region and our clients. Mohammad’s appointment brings a strong mix of brokerage and underwriting expertise, deep market knowledge, and a client-centric approach. His leadership will be key to building our operations and delivering value to clients throughout the Kingdom."

Chris Brown, CEO of Lockton International, added, "Our belief in being where our clients need us most drives Lockton’s growth. Expansion into Saudi Arabia allows us to support businesses in one of the world’s most dynamic economies. We warmly welcome Mohammad to our leadership team. His entrepreneurial spirit and extensive experience are in perfect alignment with Lockton’s culture and our ambition to be the world’s most client-focused insurance broker."

About Lockton

Lockton continues to prioritize client needs, with over 13,100 associates operating in more than 155 countries. Ownership by Lockton allows for a singular focus on delivering exceptional risk and insurance services, providing the detailed insights necessary to achieve remarkable outcomes for its clients. For further information, please visit Lockton's website.