Willis to open Kazakhstan office
by Gill Montia
Story link: Willis to open Kazakhstan office
Willis Group has received official approval from local authorities to open a representative office in Kazakhstan, the third such office to be opened by the group in the former Soviet Union, in addition to its branches in Russia and the Ukraine.
The broker’s London-based Eastern Europe executive director, Simon Aubrey-Jones, is leading the venture, having extensive knowledge of the region.
The new office is to be located in Almaty, Kazakhstan’s financial centre, and all local contracts and policies will be issued through Willis’ existing network partner in the country, CIS Risk Consultants.
In addition to commercial insurance, the group will support both domestic and international clients with reinsurance solutions backed by its global placement capabilities.
Kazakhstan is targeting oil production of three million barrels a day by 2015 and Willis was recently appointed by Halyk-Kazakhinstrakh AO, a local provider of insurance services, to arrange reinsurance for two subsidiaries of the country’s state-owned oil and gas company: KazMunaiGas Exploration and Production and Trade House, its sales operation.
Mr Aubrey-Jones comments: “We are confident that our investment in Kazakhstan, an area so rich in natural resources, will yield many rewards and we look forward to becoming a leading player in its insurance and reinsurance industry.”