Howden has secured regulatory approval to establish a reinsurance operation in Saudi Arabia as it continues to expand across the Middle East. The new entity, Howden Re KSA, will be led by Motaz Bukhari as CEO and will offer treaty and facultative placements, alongside strategic advice leveraging data, analytics and capital markets expertise. The broker says it plans to grow rapidly in the Saudi market by investing in local talent and forming partnerships with domestic businesses. Bukhari brings 12 years of insurance experience to the role, most recently serving as deputy CEO of Guy Carpenter in Saudi Arabia, with previous experience in underwriting at Arch and an early career as an engineer at Saudi Aramco. The launch comes as Saudi Arabia pursues ambitious economic reforms under Vision 2030, presenting new opportunities for the reinsurance sector to support and de-risk large-scale initiatives. David Howden, CEO of Howden, says Saudi Arabia is “buzzing with opportunity” and describes it as “one of the fastest growing economies in the G20 with a hugely ambitious vision that puts insurance front and centre”. He adds: “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 of Howden Middle East and Africa, says the move marked “a significant moment” in the group’s regional expansion and that Bukhari’s leadership would help deliver “a huge contribution to Saudi Arabia’s dynamic and rapidly evolving (re)insurance sector”. Mario Baotic, head of international growth markets at Howden Re, says the entry into Saudi Arabia “reinforces our commitment to the Middle East,” adding: “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.”
