Willis mulls Central Asian market growth with new Kazakhstan operation
Broker Willis Towers Watson has opened a new re/insurance operation in Kazakhstan to expand its presence in what it recognises as the "key Central Asian growth market".
The new entity will enable Willis to offer more directly its full range of services and expertise to both local and global clients with an interest in Kazakhstan. Previously, the company operated in Kazakhstan through a smaller representative office.
Omarkhan Tleugabilov has been appointed head of Willis Towers Watson Kazakhstan, leading a team of five from their base in Almaty.
“Our new operation will bring us one step closer to our clients and prospects, and enable us to deliver more of our global expertise and solutions to Kazakhstan, the largest economy in Central Asia," said Tleugabilov. "The country has comparatively low insurance market penetration, and we see that changing as the economy continues to grow and mature.”
Pamela Thomson-Hall, head of Central and Eastern Europe, Middle East, and Africa (CEEMEA), said: “I’m delighted to mark our commitment to this high-potential market with a new business operation, team, and strategy. We have a strong book of existing reinsurance clients with a current focus in the natural resources and infrastructure sectors. Our ambition now is to build on that foundation and drive our business forward, ultimately breaking into relatively unexplored parts of the Kazakh market.”
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