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Willis Towers Watson has opened a new operation in Kazakhstan, reaching clients in a key Central Asian market.
According to a statement from the global brokerage and advisory firm, following recent regulatory approvals, it is now licenced to conduct insurance and reinsurance business from its office in Almaty, Kazakhstan’s largest city.
With the new entity, Willis Towers Watson can now 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 the country through a smaller representative office.
Omarkhan Tleugabilov has been appointed head of Willis Towers Watson Kazakhstan, leading a team of five individuals.
“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,” Tleugabilov said. “The country has comparatively low insurance market penetration, and we see that changing as the economy continues to grow and mature.”
“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. Our ambition now is to build on that foundation and drive our business forward, ultimately breaking into relatively unexplored parts of the Kazakh market.”
