Lockton Expands Saudi Reinsurance Presence

Lockton has secured a reinsurance licence in Saudi Arabia, enabling the broker to underwrite facultative and treaty reinsurance business directly in the Kingdom. The approval strengthens the firm’s presence in one of the Middle East’s most rapidly developing insurance markets and expands its ability to connect global reinsurance capacity with local cedents.

The licence allows Lockton to place international capacity into Saudi-originated risks more directly, enhancing support for insurers operating in a market influenced by large-scale economic development and regulatory change. The Saudi insurance sector continues to be shaped by Vision 2030 initiatives, which are driving infrastructure investment, economic diversification, and increased insurance penetration across multiple classes of business.

Key demand drivers include mandatory health and motor insurance lines, alongside growing exposure in commercial property, construction, and energy-related risks. These developments have contributed to rising demand for more structured facultative and treaty reinsurance solutions within the Kingdom.

Appointment to lead Saudi operations

Lockton has appointed Mohammed Al Rowais to lead its reinsurance operations in Saudi Arabia. He brings over 15 years of experience in the Saudi insurance market, having worked in senior positions within several local firms.

Al Rowais also serves on the General Insurance and Reinsurance Subcommittee of the Saudi Insurance Authority. His role at Lockton includes developing both facultative and treaty reinsurance capabilities and strengthening relationships with cedents across the Saudi market.

Broader regional expansion strategy

The Saudi licence forms part of a wider expansion of Lockton’s reinsurance business across the Middle East and North Africa region. The firm has recently made several senior appointments aimed at scaling its regional operations.

In March 2026, Adam Berry was appointed Chief Executive Officer of Lockton Re for the MENA region. Berry joined from Howden Re and reports to Keith Harrison. His remit includes expanding treaty reinsurance operations and supporting regional growth strategies.

Earlier, in October 2025, Christopher Bonnet was appointed MENA Chief Executive Officer. He joined from AIG and was tasked with overseeing Lockton’s broader Middle East operations and regional integration.

Summary of developments

Strategic positioning in Saudi Arabia

Ata Khatib, Chairman of Lockton Middle East and North Africa, stated that the firm’s approach in the region focuses on combining international expertise with locally informed solutions. He noted that Al Rowais’s appointment supports the delivery of end-to-end reinsurance services, including both facultative placements and treaty structures.

Chris Brown, Chief Executive Officer of Lockton International, described the licence as part of a broader strategy to improve client proximity. He said the development enhances Lockton’s ability to serve Saudi-based clients directly while maintaining access to its global reinsurance capabilities.

Keith Harrison, International Chief Executive Officer of Lockton Re, highlighted the increasing importance of analytics, capital efficiency, and adaptable programme design in treaty reinsurance markets. He stated that the Saudi platform is intended to support these evolving requirements while strengthening Lockton’s operational base in the Kingdom.