24 June 2025
The Insurance Authority announces the granting of the license to “Howden Reinsurance Brokers” Company, a subsidiary of the global Howden Broking Group Limited, allowing it to conduct reinsurance brokerage activities in Saudi Arabia through direct investment in the local insurance market.
This step reflects the Authority’s role in regulating and advancing the insurance sector by facilitating and enabling foreign investments to promote competition, diversify the investor base, and bring specialized expertise to the industry.
The Authority firmly believes in the strategic role of reinsurance brokers in accelerating the development and growth of the insurance sector, as well as increasing its contribution to the national GDP.
Through licensing such activities, the Authority aims to support the sector in achieving targeted retention rates and to enhance integration among licensed entities by regulating reinsurance arrangements between insurance and reinsurance companies.
The Insurance Authority emphasizes the importance of dealing exclusively with licensed companies. Verification of licensed entities can be done through the Authority’s official website: WWW.IA.GOV.SA.