Bermuda-based specialty insurance carrier Relm Insurance Ltd has ventured into the Middle East and North Africa (MENA) region through the acquisition of B&F Partners Ltd, now rebranded 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 commence operations via its Dubai-based affiliate, which holds a Category 4 license from the Dubai Financial Services Authority (DFSA).
Entering the MENA Market
Regulated by the Bermuda Monetary Authority, Relm Insurance will introduce its specialized underwriting expertise and insurance products tailored for 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 acquisition enhances their collaboration with distribution partners across the UAE and broader MENA region.
“This strategic move enables Relm Insurance to work closely with our distribution partners in the UAE and MENA, addressing the insurance needs of businesses in dynamic sectors such as AI, Web3, and the space economy,” Ziolkowski stated. “Through leveraging our sector expertise and underwriting experience, alongside our tailored insurance solutions, we aim to enhance the resilience of innovative companies in emerging, high-growth industries.”
Relm Insurance MENA Operations
Relm Insurance MENA will operate as a managing general agent, partnering with local brokers to ensure accessible insurance coverage for its target market.
Bruno Bertucci, CEO of Relm Insurance MENA, underscored Dubai’s evolution into a global financial center.
“We are excited about the opportunities presented by our expansion into the MENA region. Dubai’s progressive regulatory environment for cryptocurrencies and blockchain positions it as a leading global financial hub, attracting top financial firms worldwide,” Bertucci commented. “This expansion initiative aligns with Relm’s mission to advance future development by providing innovative risk solutions tailored for emerging markets.”
