Specialist re/insurance broker Miller has agreed to acquire Dubai-based independent reinsurance broker Shields Reinsurance Brokers Limited (Shields), subject to regulatory approval.
Miller said the acquisition of Shields is highly complementary to its reinsurance strategy and wider cross-border expansion, further strengthening its established footprint in the EMEA market.
The deal, expected to close in the second quarter of 2026, follows Miller’s acquisition of AHJ Holdings Ltd in 2025, which significantly accelerated the company’s reinsurance business.
Founded in 2017, Shields has built a client base that includes insurance companies, reinsurers and takaful companies in the MENA region and beyond.
Shields has been regulated by the Dubai International Financial Services Authority (DFSA) since 2018 and is a Lloyd’s accredited broker, with products covering traditional and non-traditional treaties as well as ad hoc treaties across specialist areas.
Ahmed Rajab, CEO and founder of Shields, commented: “Shields has continued to grow since its founding in 2017 and becoming part of Miller will take our business and services to the next level.
“Dubai is one of the fastest growing reinsurance centers in the world, and with Miller’s support we will be able to leverage scale and additional capabilities to deepen our products, services and relationships with clients in the region.
“This is a clear demonstration of the trust we have in DIFC and we will continue to grow our business under Miller’s leadership.”
Miller CEO James Hands said: “Miller has been working with customers in the MENA region for decades and we are very pleased to have found a long-term partner in Shields to enhance our product and service offerings.
“This acquisition will give us access to new placement centers in Dubai and provide us with local presence and credibility to further serve new and existing customers.
“Like Miller, Shields’ success is built on a customer focus and a collaborative work culture; I’m excited to welcome Ahmed and the Shields team to Miller as we continue to develop our products.”