The Saudi Arabia Insurance Authority granted Howden Reinsurance Brokers, a subsidiary of Howden Broking Group Limited, a final license to conduct reinsurance brokerage activities in Saudi Arabia through direct investment in the local insurance market. The license is intended to expand foreign investment, competition and specialized expertise in the insurance sector. It also supports targeted retention rates and coordination among licensed entities by bringing reinsurance arrangements between insurers and reinsurers within the regulated brokerage framework. The authority reminded market participants to deal exclusively with licensed companies.
2025-06-24Saudi Arabia Insurance Authority
Saudi Arabia Insurance Authority grants Howden final reinsurance brokerage license
The Saudi Arabia Insurance Authority granted Howden Reinsurance Brokers a final license to provide reinsurance brokerage services through direct investment in the local market. The license supports competition, specialized expertise and regulated reinsurance arrangements between insurers and reinsurers.