Bermuda-domiciled specialty insurance carrier Relm Insurance has entered the MENA region through the acquisition of B&F Partners Ltd., now known as Relm Insurance MENA Ltd.
This strategic move enables Relm Insurance to commence operations via its Dubai-based affiliate with a licence authorised by the Dubai Financial Services Authority (DFSA). This move solidly positions Relm as the pivotal player in providing specialised insurance solutions to companies operating in high-growth and emerging industries such as AI, Web3, and the space economy.
The establishment of Relm Insurance MENA, headquartered in the Dubai International Financial Centre, marks a significant milestone in Relm Insurance’s expansion strategy. Mr Bruno Bertucci is the CEO of Relm Insurance MENA.
"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 Mr Joseph Ziolkowski, founder and CEO of Relm Insurance. "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 will operate as a Managing General Agent (MGA), working closely with local broking partners to maximise accessibility of essential insurance coverage to its target clientele.
Launched in 2019 to address the scarcity of insurance capacity available to emerging industries that spur innovation and next-generation technologies, Relm Insurance is regulated by the Bermuda Monetary Authority. The insurer has a Financial Stability Rating of ‘A’, (‘Exceptional’), from Demotech.