Aon, a provider of insurance, reinsurance brokerage and risk management services, has been awarded a license by the Saudi Arabian Monetary Authority to expand its existing presence in the Kingdom.

Aon has been serving clients in Saudi Arabia since 1979 and has three offices in the Kingdom based in Al Khober, Jeddah and Riyadh, employing 58 staff.

Latif AlRayes, CEO of Aon Middle East, said: Aon has been serving the Kingdom for almost 30 years, working for the most prestigious clients in Saudi Arabia. These clients have access to the extensive and well-established services already offered by the Aon within the Middle East region, as well as the full support of the Aon network across Europe, Asia Pacific and the US.

Economic boom, new legislation and structural reform all provide ideal conditions in which to develop a domestic insurance and reinsurance market, and Aon is committed to leveraging its specialist and global expertise to play an integral role in the continued development of the Saudi insurance sector.