Willis Towers Watson, an advisory firm and a broker, has set up a new operation in Kazakhstan to offer insurance and reinsurance services.
The firm considers Kazakhstan a key Central Asian growth market. Its presence in the region was previously marked by a smaller representative office.
The new operation will enable the firm to offer its services to local as well as global clients having an interest in Kazakhstan.
Willis Towers Watson head of Central and Eastern Europe, Middle East, and Africa Pamela Thomson-Hall said: “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.”
The new Kazakhstan entity will be led by Omarkhan Tleugabilov, who will operate from Almaty and supervise a five-member team.
“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. The country has comparatively low insurance market penetration, and we see that changing as the economy continues to grow and mature,” Tleugabilov noted.