Miller, the independent specialist (re)insurance broker, has agreed to acquire Shields Reinsurance Brokers (Shields", an independent reinsurance broker based in Dubai, subject to regulatory approval.
The acquisition of Shields will be highly complementary to Miller’s (re)insurance strategy and expanding multinational presence, building on its strong EMEA market reach, according to a statement released by Miller. The announcement follows the recent acquisition of AHJ Holdings in 2025, which significantly accelerated Miller’s reinsurance footprint.
This acquisition will provide a platform for further buildout of insurance and reinsurance capabilities in the region, under the continuing leadership of Mr Ahmed Rajab, CEO and founder of Shields.
Mr James Hands, CEO, Miller, said, “This acquisition will allow us to access a new placement hub in Dubai and gives us the local presence and credibility to further serve new and existing clients.”
Mr Rajab said, “Shields has gone from strength to strength since its establishment in 2017, and becoming part of Miller will take our business and services to the next level. Dubai is one of the fastest developing reinsurance hubs in the world, and with the backing of Miller, we will have access to the scale and additional capabilities to deepen our offering, service and relationships with clients across the region."
The transaction is subject to regulatory approval and is expected to close in the second quarter of this year. The financial details of the deal are not disclosed.
Founded in 2017, Shields covers traditional and non-traditional treaty and facultative across specialty lines. Shields is regulated by the Dubai International Financial Services (DFSA). It has been an admitted broker at Lloyd’s since 2018. Shields has built a diversified client base comprising insurers, reinsurers and takaful insurance companies across MENA and beyond.
London-headquartered Miller is a leading specialist (re)insurance broking firm with a rich heritage of over 120 years. Its global reach spans from Bermuda to Singapore.