View this article online: https://www.insurancejournal.com/news/international/2018/11/14/507457.htm
Willis Towers Watson has boosted its presence in Kazakhstan by opening a new operation to serve clients in the country.
Following recent regulatory approval, Willis Towers Watson Kazakhstan is able to conduct insurance and reinsurance business in this key Central Asian growth market, said Willis Towers Watson in a statement.
The new entity enables Willis Towers Watson 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.
“I’m delighted to mark our commitment to this high-potential market with a new business operation, team, and strategy,” said Pamela Thomson-Hall, head of Central and Eastern Europe, Middle East, and Africa (CEEMEA).
“We have a strong book of existing reinsurance clients with a current focus in the natural resources and infrastructure sectors,” Thomson-Hall said. “Our ambition now is to build on that foundation and drive our business forward, ultimately breaking into relatively unexplored parts of the Kazakh market.”
“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.”
Source: Willis Towers Watson