Howden launches reinsurance operation in Saudi Arabia with Motaz Bukhari as CEO
Howden, the global insurance and reinsurance broking group, has received regulatory approval to launch a reinsurance business in the Kingdom of Saudi Arabia, which will be led by Motaz Bukhari as Chief Executive Officer (CEO) of Howden Re, Kingdom of Saudi Arabia (KSA).
Howden Re KSA will provide treaty and facultative reinsurance brokerage services, in addition to offering strategic advice on leveraging data, analytics and capital markets expertise for the Saudi market.
The reinsurance broker plans to partner with local, culturally aligned businesses and invest in local talent to rapidly scale the business.
The move aligns with Howden’s broader commitment to investing in new markets, offering a home for local and global talent, adding more choice for clients and carriers in the region.
Howden Re KSA CEO, Bukhari, has spent 12 years in the insurance industry. He spent the last five years in numerous roles at Marsh Guy Carpenter in Saudi Arabia, most recently as Deputy CEO. His career also includes seven years on the underwriting side, specialising in Property and Energy at Arch.
David Howden CBE, CEO, Howden, commented, “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, added, “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.”
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