Liva Insurance, a leading GCC insurance provider, and Relm Insurance, which is dedicated to emerging sectors, yesterday announced that they have secured UAE Central Bank approval for their dedicated multi-line insurance solution for Web3 businesses.
The Central Bank approval follows the signing of Relm and Liva’s strategic partnership in February 2025, aimed at empowering innovation and entrepreneurship in emerging sectors such as digital assets, biotech and AI.
In a statement, the two companies said, “The UAE Central Bank approval reinforces Relm and Liva’s commitment to delivering tailored insurance solutions that address the unique and complex needs of tech companies in the region. These businesses often struggle to get the right insurance due to a lack of understanding of their industries’ rapidly evolving landscape.”
The businesses are called SIGMAWEB3, and its tailored version for VARA-regulated companies, SIGMAWEB3 VARA. Both products are designed specifically for digital asset companies, blockchain startups, crypto exchanges, and FinTech innovators, addressing the unique and complex financial, professional, crime, and cyber exposures inherent in their operations.
SIGMAWEB3 VARA is specifically tailored to meet the requirements of Dubai’s Virtual Asset Regulatory Authority (VARA), ensuring that crypto companies can operate with compliant insurance cover.
“Securing Central Bank approval for SIGMAWEB3 and SIGMAWEB3 VARA is a significant step for brokers and clients in the UAE. This milestone facilitates more comprehensive coverage tailored to the unique risks of the Web3 space. By closing the insurance gap, we’re empowering businesses with the protection they need to innovate confidently in a rapidly evolving market” said Mr Joseph Ziolkowski, CEO of Relm Insurance.
Group CEO of Liva Group, Martin Rueegg, said, "SIGMAWEB3 and SIGMAWEB3 VARA represent a significant step in our commitment to supporting growth and evolution of innovation within the insurance industry. This approval from Central Bank affirms both Liva Group’s deep market insight and Relm’s expertise in specialised insurance as well as reinforcing the vital role that regulatory collaboration plays in fostering a secure and thriving digital economy."
Relm Insurance is a Bermuda-domiciled specialty insurance carrier that supports emerging industries driving innovation and next-generation technologies. Launched in 2019, Relm offers a wide range of insurance products to high-growth markets, including digital assets, blockchain, AI, biotech, and the space economy.
Liva Insurance, a regional multi-line insurer, was formed through a merger of National Life & General Insurance Company and RSA Middle East.