Reinsurer ASR plans to establish new hubs in Egypt, and five other African countries

Africa Specialty Risks (ASR), the pan-African focused reinsurance group, is planning to establish business development hubs in six African countries; Egypt, Morocco, Kenya, South Africa, Côte d’Ivoire, and Nigeria.

The move is part of ASR’s plans to increase its presence on the continent.

The company said it intends to work proactively with local regulators and clients to develop skills and provide training to local underwriters there.

In May, it formed a dedicated reinsurance unit in Mauritius to meet the needs of the African continent.

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

The company offers insurance solutions in property, construction, political risk, trade credit, energy, liability and war, political violence, and terrorism.