Miller agrees to buy Dubai broker Shields pending approval

Shields is regulated by the DFSA, and the transaction is slated to wrap in Q2 2026.

Miller has agreed to acquire Shields Reinsurance Brokers Limited, an independent reinsurance broker based in Dubai, subject to regulatory approval.

Founded in 2017, Shields provides facultative and treaty reinsurance across a range of specialty classes.

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

Miller said the acquisition supports its (re)insurance strategy and expands its multinational presence, particularly in the EMEA region. 

The deal follows Miller’s acquisition of AHJ Holdings Ltd in 2025, which strengthened its reinsurance operations.

Shields serves a diversified client base of insurers, reinsurers and takaful providers across the Middle East and North Africa and other markets. 

Its offering includes traditional and non-traditional treaty reinsurance, as well as facultative placements across specialty lines. The business will continue to be led by Ahmed Rajab, chief executive of Shields.

The transaction is expected to close in the second quarter of 2026.