The approval marks a significant milestone in Mantas’ mission to protect cloud-reliant businesses across the Middle East and Africa through parametric insurance solutions. When the conditions of the IPA are fulfilled, the DFSA Category 4 licence will allow the company to provide insurance intermediation and insurance management services.
Mantas is the first parametric MGA in the MEA region, leveraging predictive analytics to design smarter insurance products that support digital service delivery and embedded business models.
“Every business in the MEA region relies on the cloud yet too few are protected against its failures,” said Basil Mimi, Co-founder and CEO of Mantas. “We look forward to working with the DFSA to obtain our full licence, allowing us to launch our services and continue developing solutions that turn business downtime into a managed, predictable event. Our R&D won’t stop until business disruption is no longer part of the vocabulary.”
Investor and board member Yousef Hamza described the approval as a pivotal step in redefining cyber risk protection in the region. “As digital infrastructure becomes the backbone of modern business, we believe Mantas is uniquely positioned to lead the future of insurtech with precision, trust, and innovation,” he said.
