WTW announces Kingdom of Saudi Arabia (K.S.A.) expansion with appointment of new Head of Insurance Broking
Rhea-AI Summary
WTW (NASDAQ: WTW) has secured an insurance broker license in the Kingdom of Saudi Arabia (K.S.A.) and appointed Talal Omar Bahafi as Head of Insurance Broking for WTW Saudi Arabia. Bahafi, former CEO of Chubb Arabia Insurance Company and ex-Marsh McLennan executive, brings extensive experience in strategic growth and market development. This expansion aligns with WTW's global growth strategy and Saudi Arabia's Vision 2030 objectives, strengthening the company's international network and capabilities to serve clients in the region.
Positive
- Secured new insurance broker license in Saudi Arabia, expanding market presence
- Strategic hire of experienced executive with regional expertise
- Entry into growing Saudi Arabian market aligned with Vision 2030
Negative
- None.
News Market Reaction – WTW
On the day this news was published, WTW gained 0.57%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
LONDON, Oct. 28, 2024 (GLOBE NEWSWIRE) -- WTW (NASDAQ: WTW), a leading global advisory, broking, and solutions company, today announced it has secured an insurance licence to act as an insurance broker in the Kingdom of Saudi Arabia (K.S.A).
Talal Omar Bahafi has been appointed as the new Head of Insurance Broking, WTW Saudi Arabia, based in the Kingdom of Saudi Arabia. Previously Chief Executive Officer at Chubb Arabia Insurance Company, Bahafi has extensive experience of building a forward-thinking, and performance-oriented culture, driving strategic growth across the region. Prior to Chubb, Bahafi also worked at Marsh McLennan where he was responsible for delivering overall market strategy for the Kingdom.
Pamela Thomson-Hall, Head of International, said, “At WTW we are committed to supporting our clients across the globe. Securing our insurance broker licence for the Kingdom of Saudi Arabia further strengthens our leading global network. We are delighted to have Talal on board to drive growth opportunities in this exciting market. Today’s announcement is a continuation of our growth strategy to bring global insights to clients around the world through our teams of deep specialists.”
Eleni Lykoudi, Head of CEEMΕA, added, “This is a significant development in WTW’s ambitions for growth in this region. We are delighted to have Talal in place to support our clients’ needs across the region.”
Talal Omar Bahafi said, “I am delighted to be joining and leading WTW in the Kingdom at such an exciting time as it moves towards achieving its Vision 2030* goals and objectives. I look forward to driving growth, supporting our clients, and contributing to the development of innovative solutions that align with the Vision 2030 objectives. Together, we will continue to deliver exceptional value to our clients and build upon WTW’s reputation for excellence.”
About WTW
At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance.
Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you. Learn more at wtwco.com.
* https://www.vision2030.gov.sa/en
Media Contacts
Sarah Booker
Sarah.booker@wtwco.com / +44 (0)7917 722040
FAQ
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