Howden enters Oman through acquisition
Howden, the retail broking arm of Hyperion Insurance Group, has acquired a majority stake in New Generation Insurance Services (NGIS) in Oman.
Rajiv Arora has been appointed CEO of the new entity that will be renamed Howden Insurance Brokers.
Arora has 30 years of experience in the insurance industry. Prior to nearly a decade with RSA-Al Ahlia he held various sales and leadership roles with AXA Oman, Norwich Union Bahrain, Heath Lambert, and New India Assurance Company.
Arora will report to Atinc Yilmaz, the recently appointed regional CEO of Howden Turkey, Middle East and Africa.
David Howden, CEO of Howden and parent company Hyperion, said: "Oman has a rapidly growing insurance market and one to which we can bring a fresh approach for clients by leveraging our existing expertise in the region as well as the wider Group’s access to specialist products and markets in London and internationally.
"We are delighted to partner with a large professionally managed business conglomerate to enter the sultanate and I am extremely pleased that we have been able to secure Rajiv to lead the team. The depth of both his local and regional experience is hugely important to us as we seek to build a standout local broking business that will bring the best of our international capabilities to our clients."