Relm and Liva Secure UAE Central Bank Approval for Web3 Insurance

Relm Insurance, a pioneer in insuring next-generation industries, and Liva Insurance, a prominent insurance player across the GCC, have received approval from the UAE Central Bank for their joint insurance initiative—SIGMAWEB3. This multi-line insurance product is designed specifically for Web3 ventures, with a specialized variant, SIGMAWEB3 VARA, tailored to meet the needs of entities regulated by Dubai’s Virtual Asset Regulatory Authority (VARA).

Strategic Collaboration to Foster Innovation

This regulatory milestone follows the strategic alliance formed between Relm and Liva in February 2025. The partnership was established to accelerate the growth of emerging sectors such as digital assets, biotechnology, and artificial intelligence by offering purpose-built insurance products that empower startups and innovators.

Addressing the Insurance Gap in Tech

The UAE Central Bank’s endorsement reinforces the insurers’ shared vision of bridging the insurance gap for tech-focused companies. These businesses often face significant challenges securing adequate coverage due to the complex and rapidly evolving nature of their industries—a gap SIGMAWEB3 aims to close.

Empowering Resilient Web3 Growth

By providing comprehensive risk solutions, SIGMAWEB3 and SIGMAWEB3 VARA will enhance confidence among Web3 startups. These offerings equip them to navigate regulatory hurdles, manage risk, and capitalize on new opportunities in a fast-paced digital ecosystem.

Purpose-Built for the Digital Economy

Both insurance products are crafted for the specific risks faced by blockchain developers, crypto exchanges, fintech disruptors, and other digital asset players. Coverage spans areas such as financial liability, professional indemnity, cyber risk, and crime—critical concerns in the Web3 space.

Compliance-Ready for Dubai's Regulatory Standards

The SIGMAWEB3 VARA product has been fine-tuned to align with the requirements of Dubai’s Virtual Asset Regulatory Authority. This ensures that companies operating under VARA’s jurisdiction have access to insurance coverage that not only protects their business but also keeps them compliant with evolving regulations.

“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.

A New Chapter in Web3 Insurance

This approval solidifies Relm and Liva’s leadership in the Web3 insurance space and signals growing regulatory openness toward innovative, tailored risk solutions for emerging technologies.