Lockton has obtained a reinsurance licence in Saudi Arabia, enabling the broker to underwrite facultative and treaty reinsurance business directly within the Kingdom. The approval marks a significant expansion of the firm’s presence in one of the Middle East’s fastest-developing insurance markets.
The licence strengthens Lockton’s regional footprint by linking its global wholesale and reinsurance operations more directly with local cedents in Saudi Arabia. It also allows the broker to channel international reinsurance capacity into risks originating in the Kingdom, supporting domestic insurers as they respond to evolving market conditions.
Saudi Arabia’s insurance sector continues to be shaped by large-scale infrastructure investment under Vision 2030, alongside mandatory coverage lines such as health and motor insurance. The market is also seeing increased exposure in commercial property and large industrial projects, which in turn is driving demand for more sophisticated reinsurance solutions.
Leadership appointment
To support its Saudi operations, Lockton has appointed Mohammed Al Rowais to lead its reinsurance business in the Kingdom. He brings more than 15 years of experience in the Saudi insurance sector, having held senior positions at several local firms. Al Rowais is also a member of the General Insurance and Reinsurance Subcommittee of the Saudi Insurance Authority. His remit includes developing both facultative and treaty reinsurance capabilities in the local market.
Regional expansion strategy
The Saudi licence forms part of a broader series of senior appointments and structural developments aimed at expanding Lockton’s reinsurance presence across the Middle East and North Africa (MENA) region.
In March 2026, Lockton appointed Adam Berry as Chief Executive Officer of Lockton Re for MENA. Berry joined from Howden Re and reports to Keith Harrison, with responsibility for driving regional growth in reinsurance operations.
This followed the October 2025 appointment of Christopher Bonnet as MENA Chief Executive Officer. Bonnet joined from AIG to oversee Lockton’s regional business strategy across the Middle East.
Key leadership and developments
| Date | Appointment / Development | Role | Background |
|---|---|---|---|
| Oct 2025 | Christopher Bonnet appointed MENA CEO | Regional leadership | Formerly AIG |
| Mar 2026 | Adam Berry appointed CEO, Lockton Re MENA | Reinsurance growth | Former Howden Re executive |
| 2026 | Mohammed Al Rowais appointed Saudi reinsurance lead | Saudi market development | 15+ years Saudi insurance experience |
| 2026 | Saudi reinsurance licence granted | Market expansion | Facultative and treaty capability |
Strategic positioning
Ata Khatib, Chairman of Lockton Middle East and North Africa, stated that the firm is focused on delivering locally driven reinsurance solutions that combine global expertise with regional market understanding. He noted that Al Rowais’s experience would support end-to-end service delivery across both facultative placements and treaty structures.
Chris Brown, Chief Executive Officer of Lockton International, described the licence as part of a wider client-proximity strategy, aimed at strengthening service delivery in Saudi Arabia and other key markets through Lockton’s global and specialist reinsurance capabilities.
Keith Harrison, International Chief Executive Officer of Lockton Re, added that treaty reinsurance is increasingly shaped by data analytics, capital optimisation, and flexible programme design to support cedent growth. He indicated that Lockton’s Saudi platform is intended to establish a benchmark for delivering reinsurance solutions within the Kingdom.