Saudi Arabia, a market of strategic importance for re/insurance: WTW

WTW, an insurance and reinsurance broking group, has significantly expanded its capabilities in the Kingdom of Saudi Arabia, underscoring the market’s strategic importance.

This expansion is the result of the company securing separate licenses for re/insurance broking earlier this year, a move that positions WTW to offer on-the-ground risk, advisory and placement solutions directly within the country.

Carl Hess, CEO of WTW, said: “Saudi Arabia is a market of strategic importance for WTW and our clients worldwide. The Kingdom’s rapid economic diversification, scale of ambition, and pace of innovation present opportunities unlike anywhere else.

“By expanding our insurance and reinsurance capabilities locally, we are better positioned to bring global expertise, cutting-edge technology, and deep sector insights directly to the organizations shaping Saudi Arabia’s future. This milestone underscores our long-term commitment to the Kingdom and to supporting Vision 2030.”

The industry growth and marketplace development highlight the strategic importance of strengthening Saudi Arabia’s insurance and reinsurance ecosystem, the broking group highlights.

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WTW plans to support mega-projects, national infrastructure, and emerging industries that require sophisticated risk management and long-term resilience planning with “Glocal Advisory” approach

This strategy combines the company’s global expertise with local market insights to deliver solutions tailored to Saudi Arabia’s unique needs, from AI-driven pricing and underwriting to talent development and specialized reinsurance capabilities.

The program will also bring together senior WTW leaders, policymakers, and industry stakeholders to address key sector priorities. Discussions will cover insurance and reinsurance innovation, AI’s role in modern risk management, and strategies for developing local talent and capabilities.

Sessions will also address emerging risks tied to giga-projects, infrastructure development, and evolving employee health and benefits needs in a transforming economy, reinforcing WTW’s position as a strategic risk intelligence partner to the Kingdom and the wider Middle East.

Talal Bahafi, Head of Insurance Broking, WTW Saudi Arabia, commented: “By investing in local talent, technology, and innovation, we are delivering insurance solutions that directly support Vision 2030 while unlocking sustainable growth for our clients. Our ‘Glocal Advisory’ approach ensures Saudi organizations gain the best of both worlds, global expertise tailored to local priorities, creating a more resilient, competitive, and future-ready marketplace.”

Mohammed AlSudairy, Head of Reinsurance Broking, WTW Saudi Arabia, added: “This milestone enables us to partner more closely with Saudi organizations on complex risk challenges, from safeguarding giga-projects to strengthening national resilience. By building the Kingdom’s reinsurance capabilities for the future, we can help ensure that major economic initiatives are protected, sustainable, and positioned for long-term success.”

WTW is marking the expansion of its insurance and reinsurance capabilities in the Kingdom of Saudi Arabia with a flagship executive event in Riyad on September 2.