RFIB granted licence in Saudi Arabia

RFIB Group Ltd, the Lloyd’s insurance and reinsurance broker, has been granted an intermediary license by the Saudi Arabian Monetary Agency (SAMA) to conduct insurance and reinsurance business in the Kingdom of Saudi Arabia.

The Group has now established an office in Riyadh headed by Anthony Harris, General Manager, former British Ambassador to the United Arab Emirates who has worked for RFIB in the Middle East region since February 2006. Naji Al Tamimi, a highly regarded insurance professional and Saudi national, has been appointed Deputy General Manager. Naji was previously key accounts manager at Malath Cooperative Insurance Reinsurance Company.

Anthony Harris comments: “RFIB has been handling reinsurance risks from the Saudi market for nearly 30 years, but our new insurance and reinsurance broking licence is the final stage in our establishing a domestic presence in this important and growing market and we would like to thank SAMA for their help in working with us to achieve this licence.

Adrian Spooner, Managing Director Middle East commented, “Naji’s appointment as Deputy General Manager has been invaluable in establishing our new office in Riyadh. His long experience in the market and extensive contacts will be crucial in growing our business in the Kingdom. We now intend to seek further recruits from the local market, working closely with our international team in London to aid staff training and development.”