Miller to acquire Shields in Dubai to expand MENA reinsurance footprint

Miller has agreed to acquire Dubai-based Shields Reinsurance Brokers, subject to regulatory approval, as it expands its reinsurance offering into the Middle East and North Africa.

Founded in 2017, Shields places facultative and treaty reinsurance across specialty classes.

The broking firm is regulated by the Dubai Financial Services Authority and has been an admitted broker at Lloyd’s since 2018.

Miller said the acquisition complements its reinsurance strategy and multinational growth plans, building on its EMEA presence and following the 2025 acquisition of AHJ Holdings.

Shields serves insurers, reinsurers and takaful companies across MENA and beyond, covering traditional and non-traditional treaty as well as facultative placements across specialty lines.

The business will continue to operate under the leadership of Ahmed Rajab, CEO of Shields.

James Hands, CEO of Miller, said: “Miller has worked with clients in MENA for decades and we are incredibly excited to have found a long-term partner in Shields to enhance our offering and reach.”

He added: “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.

“Like Miller, Shields’ success has been built on a client-first philosophy and a collaborative working culture; I am delighted to welcome Ahmed and the Shields team to Miller as we continue to build out our offering.”

Rajab said: “Shields has gone from strength to strength since establishment in 2017, and becoming part of Miller will take our business and services to the next level.”

He added: “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. This is a clear testament that we believe in the DIFC and we will continue under the helm of Miller to grow our operation.”