Deals: Nexus Agrees to Buy Arma Fusion Ltd

This deal was announced over Christmas, so just catching up with the emails – as y’do;

Nexus Underwriting (‘Nexus’), a Brown & Brown group business, announces today that it has entered into an agreement to acquire Arma Fusion Limited, the parent company of Arma Underwriting Limited (‘Arma’).

Arma is a leading specialty reinsurance MGA based in the Dubai International Financial Centre (‘DIFC’) in Dubai, UAE, focusing on Property, Energy, Liability, Consumer and Accident and Health (A&H) reinsurance lines.

Founded in 2017, Arma has quickly built up a strong reputation demonstrated by longstanding relationships with excellent capacity partners, diversity of product offerings to the local market, strong service and tailored solutions for broker partners. Arma was awarded MGA of the year in the Middle East Insurance Industry Awards in 2023.  

This is Nexus’ 18th MGA acquisition since inception and marks the first MGA acquisition since they were acquired by Brown & Brown in October 2023.

Arma will continue to be led by founder and Chief Executive Officer (CEO) Michael Rafter, who will work with James Lawrie (Nexus CEO UK, Europe & International) to further grow within the Middle East.