Lockton has obtained a reinsurance licence in Saudi Arabia, allowing the broker to conduct facultative and treaty reinsurance business directly within the Kingdom. The approval represents a further expansion of its operations across the Middle East, particularly in a market undergoing rapid insurance sector development.
With this authorisation, Lockton strengthens the integration between its global wholesale and reinsurance platform and Saudi-based cedents. The licence enables the firm to facilitate the flow of international reinsurance capacity into locally underwritten risks, supporting insurers operating in an environment characterised by structural growth and regulatory transformation.
Saudi Arabia’s insurance market continues to evolve under the influence of Vision 2030, a national strategy driving large-scale infrastructure development and economic diversification. Compulsory insurance lines, including health and motor, remain central to market demand, while exposure to commercial property, construction, and industrial risks is expanding alongside major investment projects.
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Local leadership appointment
To oversee its Saudi reinsurance operations, Lockton has appointed Mohammed Al Rowais as head of its business in the Kingdom. Al Rowais brings more than 15 years of experience in the Saudi insurance sector, having previously held senior roles in several domestic insurance organisations. He also serves on the General Insurance and Reinsurance Subcommittee of the Saudi Insurance Authority.
His responsibilities include building Lockton’s facultative and treaty reinsurance capabilities within Saudi Arabia and strengthening client engagement across both product areas.
Regional expansion and senior hires
The Saudi licence is part of a broader strategic expansion of Lockton’s reinsurance operations across the MENA region. The firm has recently reinforced its leadership structure through several senior appointments designed to scale its regional presence.
In March 2026, Lockton appointed Adam Berry as Chief Executive Officer of Lockton Re for the MENA region. Berry joined the company from Howden Re and reports to Keith Harrison, with responsibility for driving growth across treaty reinsurance operations.
This followed the October 2025 appointment of Christopher Bonnet as MENA Chief Executive Officer. Bonnet, previously with AIG, was brought in to oversee Lockton’s broader regional strategy across the Middle East.
Key developments overview
| Year/Month | Development | Role/Function | Previous Affiliation |
|---|---|---|---|
| Oct 2025 | Christopher Bonnet appointed MENA CEO | Regional executive leadership | AIG |
| Mar 2026 | Adam Berry appointed CEO, Lockton Re MENA | Treaty reinsurance expansion | Howden Re |
| 2026 | Mohammed Al Rowais appointed Saudi lead | Saudi reinsurance operations | Local insurance sector |
| 2026 | Saudi reinsurance licence granted | Market entry/expansion | Facultative & treaty business |
Strategic outlook
According to Ata Khatib, Chairman of Lockton Middle East and North Africa, the company’s regional strategy is centred on delivering reinsurance solutions tailored to local market requirements while leveraging international expertise. He emphasised that Al Rowais’s experience would support full-cycle client servicing, covering both facultative placements and treaty structures.
Chris Brown, Chief Executive Officer of Lockton International, described the Saudi licence as part of a wider approach focused on improving client proximity. He noted that the development enhances Lockton’s ability to serve clients directly within Saudi Arabia while maintaining access to its global specialist reinsurance capabilities.
Keith Harrison, International Chief Executive Officer of Lockton Re, highlighted the increasing importance of data-driven underwriting, capital efficiency, and flexible programme design in treaty reinsurance markets. He indicated that Lockton’s Saudi platform is intended to support these evolving requirements while establishing a stronger operational base in the Kingdom.