Relm Insurance and Liva Insurance Obtain Central Bank Approval in the UAE for Web3 Insurance Solutions
- Through this partnership Liva and Relm aim to cater to businesses in high-growth innovative sectors often not covered by traditional insurance products and providers
- Regulatory approval for SIGMAWEB3 reinforces commitment to digital asset innovation in the UAE and potentially setting the base for further expansion in the region
- SIGMAWEB3 designed specifically for organisations developing or utilising blockchain technologies
14th April 2025, Dubai, United Arab Emirates
Relm Insurance – the only insurer dedicated to emerging sectors – and Liva Insurance, a leading insurance provider operating across the GCC, today announced UAE Central Bank approval for their dedicated multi-line insurance solution for WEB3 businesses – SIGMAWEB3, and its tailored version for VARA-regulated companies, SIGMAWEB3 VARA.
This milestone follows the signing of Relm and Liva’s strategic partnership in February 2025, aimed at empowering innovation and entrepreneurship in emerging sectors such as digital assets, biotech and AI.
The UAE Central Bank approval reinforces Relm and Liva’s commitment to deliver tailored insurance solutions that address the unique and complex needs of tech companies in the region. These businesses often struggle to get the right insurance due to a lack of understanding of their industries’ rapidly evolving landscape.
SIGMAWEB3 and SIGMAWEB3 VARA will help create the confidence and resiliency that WEB3 innovators require to tackle complex challenges and seize new opportunities, while meeting the necessary regulatory requirements.
Both products are designed specifically for digital asset companies, blockchain startups, crypto exchanges, and fintech innovators, addressing the unique and complex financial, professional, crime, and cyber exposures inherent in their operations.
SIGMAWEB3 VARA is specifically tailored to meet the requirements of Dubai’s Virtual Asset Regulatory Authority (VARA), ensuring that crypto companies can operate with compliant insurance cover.
“Securing Central Bank approval for SIGMAWEB3 and SIGMAWEB3 VARA is a significant step for brokers and clients in the UAE. This milestone facilitates more comprehensive coverage tailored to the unique risks of the Web3 space. By closing the insurance gap, we’re empowering businesses with the protection they need to innovate confidently in a rapidly evolving market” said Joseph Ziolkowski, CEO of Relm Insurance.
“SIGMAWEB3 and SIGMAWEB3 VARA represent a significant step in our commitment to supporting growth and evolution of innovation within the insurance industry. This approval from Central Bank affirms both Liva Group’s deep market insight and Relm’s expertise in specialised insurance as well as reinforcing the vital role that regulatory collaboration plays in fostering a secure and thriving digital economy. Together, we aim to provide customers with solutions that meet their evolving needs, while strengthening our commitment to scale and diversify our business.” Martin Rueegg, Group CEO of Liva Group.
The approval recognises Relm and Liva’s leadership in Web3 insurance and highlights the increasing regulatory acceptance of innovative insurance solutions.
