WTW Expands Footprint in Saudi Arabia with Reinsurance Broker Licence
In a significant move, global insurance brokerage Willis Towers Watson (WTW) has secured a licence to operate as a reinsurance broker in the Kingdom of Saudi Arabia (KSA). This development marks a major milestone in WTW’s growth strategy in the region.
Leadership Appointment
Mohammed S AlSudairy, a seasoned expert in the Saudi market, has been appointed as the head of Reinsurance Broking for WTW Saudi Arabia. AlSudairy brings a wealth of experience in treaty, facultative, and claims activities, having previously served as the deputy CEO at Chedid Reinsurance Brokerage.
Growth Ambitions
Eleni Lykoudi, WTW CEEMĪA head, expressed enthusiasm about AlSudairy’s appointment, stating that his leadership will play a crucial role in advancing WTW’s growth strategy in the KSA market. Lykoudi emphasized that AlSudairy’s deep market insights will enable WTW to innovate and deliver greater value to its clients.
Commitment to the Kingdom
AlSudairy echoed Lykoudi’s sentiments, highlighting WTW’s commitment to the kingdom and the broader region. He expressed his excitement about joining WTW during this phase of expansion and looks forward to building momentum, forging lasting partnerships, and contributing to the ambitions of Saudi Arabia’s Vision 2030 goals and objectives.
Cyber Insurance Facility
Earlier this month, WTW launched CyCore Asia, a cyber insurance facility designed for businesses in Singapore and Hong Kong. The facility, underwritten by QBE Insurance Group and AXA XL, offers a primary insurance capacity of up to $15m. CyCore Asia was developed in response to WTW’s Emerging and Interconnected Risk survey, which identified technology and cyber risks as key concerns for businesses across Asia.
About WTW
Willis Towers Watson is a global insurance brokerage that provides a range of services to clients worldwide. With its expanded presence in the KSA market, WTW is poised to deliver exceptional support and solutions to its clients in the region.
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