UAE: Millennium and RMS enter into broking JV
Source: Middle East Insurance Review | Mar 2015
Dubai-based Millennium Insurance Brokers and Oman’s Risk Management Services (RMS) have announced a joint venture to provide comprehensive risk consultancy and insurance broking services to customers across GCC, India, Pakistan and Sri Lanka.
Mr Albert Rodrigues, Managing Director of Millennium, said that the JV will build on the synergies of the two companies to create opportunities in newer markets. “When it comes to addressing niche insurance segments, you need to consider a number of components to make it deliver. You have to form alliances with the right partners, and hence, RMS was a unanimous choice. In terms of direction, sharing common principles of customer centricity and professional approach we are exactly aligned with their future vision,” he said.
Mr David Street, CEO of RMS, said the alliance was a natural progression towards establishing the company’s foothold across the GCC. “We believe that our joint venture is the best way to leverage the opportunities in the market and drive growth of our insurance solutions in this part of the world,” he added. “Together, we have developed some dynamic growth plans in our core markets and we now look forward to the implementation phase.”