WTW, a leading global advisory, broking and solutions company, has received the required regulatory approvals for the change in ownership of Al-Futtaim Willis (AFW), enabling WTW to wholly own the business in the UAE and Bahrain.
Following Al-Futtaim’s sale of its 51% stake in the joint venture, WTW will assume full control of AFW, an insurance broking and risk management advisory firm.
Regulatory approvals received from the Central Bank of the UAE and the Central Bank of Bahrain complete the change in ownership of AFW.
In a statement, WTW said, “This development represents another significant step in WTW’s long-term growth strategy and strengthens our ability to provide clients across the region with enhanced access to our global expertise, specialist capabilities, and integrated solutions.
“The announcement also reflects WTW’s continued investment in the Middle East, complementing recent expansion initiatives in the Kingdom of Saudi Arabia and reinforcing our commitment to serving clients across the region with a broader and more consistent offering.”
Ms Pamela Thomson-Hall, Head of International at WTW, said, “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.”
WTW disclosed the acquisition of Al Futtaim’s 51% stake in the broking venture in May 2025.
AFW was established in 1976 by the UAE-based Al-Futtaim Group and WTW. Al-Futtaim is one of the most diversified privately-held regional groups headquartered in Dubai.