Africa Specialty Risks Launches Reinsurer in Bermuda

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Africa Specialty Risks (ASR), the pan-African focused reinsurance group, announced it has launched a licensed reinsurer in Bermuda.

The group will offer a full suite of products from its Bermudan reinsurer, including political risk & trade credit, political violence & terrorism, property, energy, liability, construction and parametric. Once rated, this capacity will be used to bolster ASR’s current MGA capacity supporting investment and business into and throughout Africa.

Bermuda is a Solvency II equivalent global reinsurance hub.

“Launching our reinsurer in Bermuda is another big step for Africa Specialty Risks as we continue to build a comprehensive offering of specialty reinsurance products and services for the African markets and beyond,” commented Mikir Shah, CEO at ASR.

“The island is an important centre of finance and increases our footprint. The reinsurer will work closely with our group companies in London and Mauritius.”

ASR was launched in September 2020 by Helios Investment Partners LLP in partnership with Mikir Shah, former CEO of AXA Africa Specialty Risks, and Bryan Howett, former CEO of Old Mutual’s pan-African reinsurance operations.

Source: Africa Specialty Risks