Specialist re/insurance broker Miller has agreed to acquire Shields Reinsurance Brokers Limited (Shields), an independent reinsurance broker based in Dubai, subject to regulatory approval.
According to Miller, the acquisition of Shields is highly complementary to its re/insurance strategy and broader multinational expansion, further strengthening its established footprint across the EMEA market.
The transaction, which is expected to close in Q2 2026, follows Miller’s acquisition of AHJ Holdings Ltd in 2025, which significantly accelerated the firm’s reinsurance footprint.
Founded in 2017, Shields has since built a client base comprising insurers, reinsurers and takaful insurance companies across MENA and beyond.
Regulated by the Dubai International Financial Services (DFSA) and an admitted broker at Lloyd’s since 2018, Shields’ offering covers traditional and non-traditional treaty and facultative across specialty lines.
Ahmed Rajab, CEO and Founder of Shields, commented on the news, “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.”
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.
“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.”
