The UK-based insurance broker Howden revealed they have been approved by the Central Bank of Bahrain to establish their operations in the Kingdom of Bahrain.
By beginning operations in Bahrain, Howden expands its presence in the Gulf, where it already has operations in Dubai, Abu Dhabi, and Oman and employs more than 200 locals. It will offer a comprehensive array of insurance brokerage and risk advisory services for a variety of risk-prone industries, such as aviation, construction, energy, financial institutions, marine, property/casualty, employee benefits, and specialty lines.
“I am thrilled to be a part of this innovative and interesting project here in Bahrain, where I have lived for 26 years. According to Adam Knights, executive director and chief executive officer of Howden Bahrain, “Howden Bahrain will offer Bahraini clients customized insurance solutions supported by Howden’s professional skills, data and analytics, and technology capabilities.
“Our engagements with numerous renowned Bahraini enterprises have encouraged us that there is ample opportunity for an alternative insurance broker to provide services in the Kingdom,” the executive continued. “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.”
According to David Howden, chief executive officer of Howden, “Howden has operated in the Gulf for more than a decade, and we were drawn to the Kingdom of Bahrain due to its reputation for being business friendly, combined with its comprehensive regulatory environment and the availability of experienced and talented local people.”
“We want to give customers in Bahrain and the larger Gulf area options. We are excited to expand our current geographic footprint and create a variety of specialized solutions. We also look forward to become one of the top brokers in the area by fusing our global platform with local knowledge, he continued.