James Hands, CEO, 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. 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.”
London:Miller, the independent specialist (re)insurance broker has agreed to acquire Shields Reinsurance Brokers Limited (“Shields”), an independent reinsurance broker based in Dubai, subject to regulatory approval.
The transaction is expected to close in Q2 2026.
Founded in 2017, Shields has a strong reputation, delivering both Facultative and Treaty reinsurance across various specialty classes. Shields is regulated by the Dubai International Financial Services (DFSA) and is an admitted broker at Lloyd’s since 2018.
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. The announcement follows the recent acquisition of AHJ Holdings Ltd in 2025, which significantly accelerated Miller’s reinsurance footprint.
Shields has built a diversified client base comprising insurers, reinsurers and takaful insurance companies across MENA and beyond. Shields’ offering covers traditional and non-traditional treaty, and facultative across specialty lines.
This acquisition will provide a platform for further buildout of insurance and reinsurance capabilities in the region, under the continuing leadership of Ahmed Rajab, CEO of Shields.
James Hands, CEO, 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. 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.”
Ahmed Rajab, CEO and Founder, Shields, commented: “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. 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.”