Global insurance and reinsurance broking group WTW has received the necessary regulatory approval to take full control of its longstanding joint venture, UAE-domiciled Al-Futtaim Willis (AFW).
Regulatory approvals were granted by the Central Bank of the UAE and the Central Bank of Bahrain to complete the change in ownership of Al Futtaim Willis.
The change in ownership follows Al-Futtaim’s decision to sell its 51% stake in the joint venture, announced in May 2025.
The move aligns with and complements WTW’s long-term goal of further regional expansion in the UAE and Saudi Arabia.
Pamela Thomson-Hall, Head of International, WTW, commented, “WTW’s investment strategy remains acutely focused on optimising the company’s portfolio globally and pursuing scaled and high-growth broking businesses. This investment will enable us to wholly manage our businesses in Dubai and Bahrain going forward.
“It further strengthens our strategy and enables us to provide clients in the UAE and wider region with better access to our specialist expertise and global placement capabilities. It also enhances our ability to serve our global benefit management clients through a more consistent delivery approach.”
Eleni Lykoudi, Head of WTW CEEMEA, said, “This change in ownership structure complements WTW’s recent investments in the Kingdom of Saudi Arabia, where the company recently established insurance and reinsurance broking entities.
“The integration of AFW will allow our local, regional, and global clients to access WTW’s entire portfolio, enhancing our value proposition in the market. All of this speaks to WTW’s commitment to invest in the Middle East and our enhanced client service offering in the region.”
