London ins. firm Nexus to acquire Dubai-based Arma Fusion

London-based ins. firm Nexus Underwriting agreed to acquire Arma Fusion, the parent company of Dubai-based Arma Underwriting, according to a press release. Arma will retain its current leadership under founder and CEO Micheal Rafter, who will work with Nexus’ CEO for UK, Europe, and International, James Lawrie, to expand operations in the Middle East. The transaction is slated to close in 1Q 2025, pending regulatory approvals. The value of the transaction was not disclosed.

About Arma: Established in 2017, Arma Underwriting operates as a specialty reins. managing general agent (MGA) from the Dubai International Financial Center, focusing on property, energy, liability, consumer, and accident and health reins.

This is Nexus’ first acquisition since it was acquired by Brown & Brown in October 2023. The firm operates as an independent MGA specializing in niche ins. lines. underneath the Kentro Capital umbrella, a global MGA investment platform, which employs around 300 people across nine countries, including UAE.