Aon claims to be one of the first international brokers to be awarded a license by the Saudi Arabian Monetary Authority, in accordance with the provisions of the Kingdom's Insurance Law 2004. Aon has been serving clients in Saudi Arabia since 1979 and has three offices in the Kingdom based in Al-Khobar, Jeddah and Riyadh, employing 58 staff. The Middle East insurance sector is rapidly evolving, driven by factors such as the raft of major infrastructure projects across the region, the introduction of legislation for compulsory health and motor insurance in some countries and the emergence and ongoing development of Takaful insurance products. The Kingdom's insurance sector is driven by a $624 billion investment program that includes $80 billion worth of projects to expand oil capacity and the creation of six new economic cities.
