Mazhar transitions to Chubb from Liva Insurance, where he served as CEO. The executive brings over 23 years of experience in the insurance industry, having held senior leadership roles across the region, including Pakistan and Saudi Arabia.
His prior tenure at Chubb includes leadership of the Saudi entity from 2019 to 2023 and earlier posts within various Chubb affiliates dating back to 2001.
In his new role, Mazhar will oversee strategy and operations across Chubb Arabia’s regional business, with a focus on growth and positioning in Saudi Arabia’s maturing insurance sector.
Serge Osouf, chairman of Chubb Arabia’s board, said Mazhar’s knowledge of the local insurance landscape and prior experience within Chubb make him well positioned to help the company advance its business goals in the region.
“We are delighted that Kamran is rejoining Chubb Arabia. He is a highly experienced leader with a proven track record. His deep understanding of both Chubb and the insurance market in the Kingdom of Saudi Arabia will allow us to continue to grow our business in the market, and we look forward to working with him again,” he said.
Peter Kelaher, Chubb’s division president for Continental Europe, the Middle East, and North Africa, said that Mazhar’s return will support the company’s business continuity and customer engagement strategy.
“Kamran’s leadership will position Chubb for continued success and innovation in the insurance landscape of Saudi Arabia. His proven ability to navigate complex market conditions and foster strong relationships with clients will be instrumental as we aim to meet the evolving needs of our customers,” he said.
Mazhar holds an executive MBA from HEC Paris, a BA in economics from the University of Texas at Austin, and a Diploma in Insurance from the Chartered Insurance Institute in the UK.
His appointment comes as Saudi Arabia’s general insurance market enters a period of projected expansion.
GlobalData estimates that gross written premiums will grow from SAR68.8 billion (US$18.4 billion) in 2024 to SAR105.3 billion (US$28.1 billion) by 2029. The forecast reflects an 8.9% compound annual growth rate.
A major factor behind this projected expansion is regulatory reform, including higher capital thresholds that are expected to drive market consolidation.
Economic diversification initiatives under Saudi Vision 2030 are also influencing insurance trends. With investments in infrastructure, logistics, clean energy, and mining, insurers are seeing increased demand across lines.
