Howden, an international insurance broker, has established operations in Bahrain having received a licence from the Central Bank of Bahrain (CBB).

Adding another key territory to Howden’s footprint in the Gulf, Howden Insurance Broker in Bahrain will provide a full range of insurance broking and risk advisory services across multiple risk sectors including aviation, construction, energy, financial institutions, marine, property and casualty, employee benefits and specialty lines.

This represents a significant step in Howden’s strategic growth ambitions for the Gulf, with existing operations in Dubai, Abu Dhabi and Oman employing over 200 people in the region.

Expressing delight at the launch of the “new and exciting venture” in the kingdom, which has been his home for 26 years, Adam Knights, executive director and chief executive at Howden Bahrain, said: “Howden will provide Bahraini clients with personalised insurance solutions bolstered by specialist expertise, data and analytics and technological capabilities.

“Our engagements with multiple renowned local enterprises have encouraged us that there is ample opportunity for an alternative insurance broker to provide services in the kingdom, and our strategy will be to grow a sizeable market share by adding value to Bahraini clients using our international capabilities and by attracting and developing local talent,” he added.

Established in London in 1994, Howden Broking Group has grown into the largest international independent insurance broker headquartered outside the USA, with nearly $1.25 billion in revenues and managed premiums of more than $30bn.

On the firm’s Bahrain foray, Howden Group chief executive David Howden listed the country’s reputation for being business-friendly, combined with its comprehensive regulatory environment and the availability of experienced and talented local individuals, as key reasons that attracted the broker to Bahrain.

“Howden has operated in the Gulf for over a decade... Our goal is to provide choice for clients in Bahrain and the wider Gulf region. We are eager to grow our existing territorial presence and develop a range of specialist solutions, and look forward to building one of the leading brokers in the region, combining our international platform with local expertise,” he added.

The Bahrain Economic Development Board, the national investment promotion agency, has welcomed the company’s entry into Bahrain.

Dalal Buhejji, business development executive director for financial services at the EDB, said: “We are thrilled to see Howden enter the market benefiting from Bahrain’s earned reputation as the region’s most established financial hub with a forward-looking business ecosystem.”

She added that this was in line with the financial services sector development strategy under the kingdom’s Economic Recovery Plan which outlines an overall objective to increase the sector’s GDP contribution to 20 per cent by 2026.

“Further developing Bahrain’s insurance subsector is a vital deliverable alongside five priorities. Attracting leading players in the likes of Howden to set up operations in Bahrain is another positive step towards realising this target,” said Ms Buhejji.

Howden is a proud sponsor of Bahrain’s Crown Prince’s Cup, underlining the company’s passion for international horseracing and its commitment to supporting local communities.

 

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