25-06-2025
Howden announces its entry into the Kingdom of Saudi Arabia to drive strategic growth opportunities
London – Howden, the global insurance intermediary group, today announces that it has received regulatory approval to launch a reinsurance operation in the Kingdom of Saudi Arabia. The new business will be led by Motaz Bukhari, who has been appointed Chief Executive Officer of Howden Re, Kingdom of Saudi Arabia (KSA). This announcement reflects Howden's commitment to investing in new markets, offering a home for local and global talent and greater choice for clients and carriers in Saudi Arabia and the wider region.
Motaz Bukhari brings with him a wealth of experience, having spent 12 years in the insurance industry. Over the past five years, he held various leadership roles at Marsh Guy Carpenter in Saudi Arabia, most recently serving as Deputy CEO. His career also includes seven years on the underwriting side, specialising in Property and Energy at Arch. He began his professional journey as an engineer with Saudi Aramco.
Howden Re KSA will provide reinsurance brokerage services across Treaty and Facultative placements, in addition to offering strategic advice on leveraging data, analytics and capital markets expertise for the Saudi market. Howden Re will be partnering with local, culturally aligned businesses and investing in local talent to scale the business quickly and effectively.
David Howden CBE, CEO, Howden said: 'We couldn't be more excited to open the doors to Howden KSA. This is a country buzzing with opportunity. It is one of the fastest growing economies in the G20 with a hugely ambitious vision that puts insurance front and centre. We have already built up a strong partnership with the Kingdom thanks to our role as part of the UK government's Great Futures delegation, our work with Saudi EXIM bank and our sponsorship of the Jockey Club of Saudi Arabia. We now look forward to turbocharging our efforts – building a long-term commitment with our Saudi partners, providing innovative solutions to the local market, and a fresh alternative for home-grown talent.'
Richard Mockett, CEO, Howden Middle East and Africa, commented: "Saudi Arabia's extraordinary pace of development presents a unique opportunity for the (re)insurance sector to play a critical role in supporting and de-risking the Kingdom's ambitious initiatives. We are proud to announce our entry into this strategically vital market, marking a significant moment in our ongoing expansion across the Middle East. Under Motaz's leadership and guidance, we are confident that Howden will make a huge contribution to Saudi Arabia's dynamic and rapidly evolving (re)insurance sector."
Mario Baotic, Head of International Growth Markets, Howden Re, said: 'Our entry into Saudi Arabia marks an important milestone in Howden Re's international growth and reinforces our commitment to the Middle East. With its ambitious economic transformation and increasing demand for sophisticated risk solutions, the Kingdom offers significant opportunities to deliver real value through our specialist expertise and data-driven capabilities. We are here to build for the long term – partnering locally, investing in local talent, and shaping a new chapter of reinsurance innovation and resilience across the region.'
About Howden
Howden is a leading global insurance intermediary group with employee ownership at its heart. Founded in 1994, it provides insurance, reinsurance and underwriting services and solutions to clients ranging from private individuals to the largest multinational companies.
The Group operates in 55 countries in Europe, Africa, Asia, the Middle East, Latin America, the USA, Australia and New Zealand, employs 22,000 people and manages premiums totalling USD 45 billion on behalf of its clients.
About Howden Re
Howden Re is the global reinsurance and capital markets arm of Howden. Offering risk, capital, and strategic advisory, Howden Re is distinguished by its innovative service offering, entrepreneurial leadership approach, and commitment to excellence. With a broad suite of services and specialities, differentiated capital structure, and growing global team, Howden Re aims to deliver outsized value to reinsurance clients.
