Bermuda-based specialty insurance carrier Relm Insurance Ltd has made a strategic move into the Middle East and North Africa (MENA) region by acquiring B&F Partners Ltd, now operating as Relm Insurance MENA Ltd.
Established in 2019, Relm Insurance was founded to address the limited insurance capacity available to high-growth markets. This expansion allows the company to begin 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 bring its specialized 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 milestone in the company’s growth strategy.
Joseph Ziolkowski, founder and CEO of Relm Insurance, emphasized that the deal will enhance the company’s 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,” said Ziolkowski. “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
The new Dubai operations extend Relm Insurance’s 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 rapid 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,” said Bertucci. “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.”
Relm Insurance’s entry into the MENA market signifies a pivotal moment for the company as it seeks to support the growth and resilience of businesses in high-growth, innovative industries.
