Bermuda-based Relm Insurance ventures into MENA market

Bermuda-based Relm Insurance ventures into MENA market | Insurance Business Asia

Insurance News

Acquisition aims to bolster collaboration with distribution partners

Insurance News

By
Roxanne Libatique

Bermuda-based specialty insurance carrier Relm Insurance Ltd has expanded into the Middle East and North Africa (MENA) region with the acquisition of B&F Partners Ltd, now operating as Relm Insurance MENA Ltd.

Established in 2019, Relm Insurance aims to address the limited insurance capacity available to high-growth markets.

The expansion allows Relm Insurance to initiate operations through its Dubai-based affiliate, which holds a Category 4 license from the Dubai Financial Services Authority (DFSA).

Relm Insurance enters MENA market

Relm Insurance, regulated by the Bermuda Monetary Authority, will introduce its specialised underwriting expertise and insurance products to the MENA market.

The launch of Relm Insurance MENA, headquartered in the Dubai International Financial Centre, marks a significant step in the company’s growth strategy.

Joseph Ziolkowski, founder and CEO of Relm Insurance, said the deal will enable the company to bolster its collaboration with distribution partners in the UAE and the broader MENA region.

“This acquisition opens up new avenues for Relm Insurance to work more closely with its distribution partners in the UAE and the broader MENA region to cater directly to the insurance needs of businesses operating in rapidly evolving industries such as AI, Web3, and the space economy,” he said. “By leveraging our sector expertise, underwriting experience, and our tailored insurance products, we aim to help bolster the resilience of innovative companies in emerging, high-growth industries.”

Relm Insurance MENA

Relm Insurance said the new Dubai operations extend its reach and commitment to serving emerging industries.

Relm Insurance MENA will function as a managing general agent, partnering with local brokers to ensure essential insurance coverage is accessible to its target market.

Bruno Bertucci, CEO of Relm Insurance MENA, highlighted Dubai’s development into a global finance hub.

“We are excited about the opportunities presented by our expansion into the MENA region. Dubai is quickly becoming a global finance hub thanks to its forward-thinking regulations for cryptocurrencies and blockchain, attracting top financial companies worldwide,” he said. “This global expansion initiative furthers Relm’s dedication to our mission of contributing to the building of the future by creating solutions for complex risks for innovative markets.”