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South African unrest could drive insured losses of $680m: reports
15th July 2021
State-owned insurer Sasria has estimated that days of civil unrest across South Africa could drive insured losses of between 7 billion rand and 10 billion rand ($481 million to $683 million). Sasria told Reuters that the losses would mostly stem from damage and theft from businesses, following widespread vandalism and looting, ... Read the full article
Rokstone secures coverholder licence in Africa
13th July 2021
International speciality re/insurance MGA Rokstone has secured an insurance agent licence from the Financial Services Commission in Mauritius (FSC) and is now fully authorised to underwrite business directly in Africa. Initially writing Political Violence & Terrorism and Property directly from Mauritius, the office expects to offer Financial Lines later in the ... Read the full article
South Africa asks for further divestments in Aon / WTW remedy package
29th June 2021
The Competition Commission of South Africa (CCSA) has required that brokers Aon and Willis Towers Watson (WTW) make a number of significant divestments to remedy competition concerns before their pending merger can be approved in the country. The regulator has asked that the brokers divest WTW’s entire global reinsurance broking business ... Read the full article
RSIS names Chiguye as Regional Head for Southern Africa
22nd June 2021
Reinsurance Solutions Intermediary Services (RSIS), the recently launched subsidiary of African reinsurance broking group Reinsurance Solutions Group, has announced the appointment of Blessing Chiguye as Regional Head for Southern Africa. Launched in August 2020, RSIS provides niche reinsurance and insurance solutions to clients operating in Southern Africa, with a focus ... Read the full article
Neema launches Political Violence & Terrorism product in Africa
14th June 2021
African specialist underwriting agency Neema Insurance Managing Agency (Neema) has launched a Political Violence & Terrorism reinsurance product aimed to help protect the African markets. Headquartered in Mauritius, Neema is regulated by the Financial Services Commission and has facilities from reputable reinsurers that enable it to underwrite on their behalf across ... Read the full article
Africa Specialty Risks launches parametric underwriting division
25th May 2021
Pan-African focused reinsurance group Africa Specialty Risks has announced the launch of its parametric division, alongside the appointment of Dr Raveem Ismail as Head of Parametric Underwriting and Ian Bishop as Parametric Product Manager. ASR Parametric has been established to combine underwriting, technology and analytical expertise to offer innovative risk solutions. Cover will ... Read the full article
Africa Specialty Risks launches reinsurer in Mauritius
21st May 2021
Africa Specialty Risks Group (ASR), which is backed by Helios Investment Partners, has announced the launch of a fully capitalised and licenced reinsurance entity in Mauritius, designed to meet the needs of the African continent. Helios announced the launch of ASR, in partnership with Mikir Shah, former CEO of AXA ... Read the full article
Africa Specialty launches liability capacity, appoints Boreham to lead
13th May 2021
Pan-African focused reinsurance Africa Specialty Risks (ASR) has announced the launch of its liability business, appointing Martin Boreham to lead. Boreham has over 30 years’ experience within the insurance industry and joins following eight years at MS Amlin, where he was the product lead for international casualty. He was previously portfolio manager ... Read the full article
Africa Speciality Risks launches construction capacity, appoints lead
22nd April 2021
Pan-African focused reinsurance group Africa Specialty Risks (ASR) has announced the launch of its construction capacity, appointing James Cronje to lead as Head of Construction Underwriting. ASR will specialise in offering construction solutions cover, underwriting a spectrum of construction risk including the power, mining, chemical processing industries and public and private ... Read the full article
Brokerslink bolsters management in Africa, Asia-Pacific and Europe
14th April 2021
Global brokering business Brokerslink has announced the appointments of new regional managers in Africa, Asia-Pacific and Europe. Au Quang Hien takes the role of regional manager for Asia-Pacific. Hien is CEO and founder of AEGIS Insurance Brokers, Brokerslink’s partner in Vietnam. Benjamin Boudeau-Raimbault becomes regional manager for Africa. He is the general ... Read the full article
QBE Re targets regional expansion; names Attilio Tornetta as Head of Africa
29th March 2021
QBE Re, the reinsurance arm of the Australian insurer, has announced the expansion of its treaty hub for Africa with the addition of Attilio Tornetta as Head of Africa, based in Dubai. In this newly created role, Tornetta will be responsible for all the new treaty business incepting from the April ... Read the full article
Africa Specialty Risks hires Peter Way as first Actuary
12th March 2021
Africa Specialty Risks (ASR), the Pan-African focused reinsurance group, has appointed Peter Way as an Actuary, focusing specifically on the development of in-house pricing models. Way joins as the group’s first Actuary, bringing nine years of experience working in the insurance industry, having previously held both actuarial and underwriting roles. His experience ... Read the full article
Willis Re launches cat risk model for hail events in South Africa
11th March 2021
Willis Re, the reinsurance broking arm of Willis Towers Watson, has launched a new Hail Catastrophe Risk Model which quantifies the risk from damaging hail events across South Africa. The model has been developed in collaboration with Willis Research Network partners at NASA’s Langley Research Centre and the Karlsruhe Institute of ... Read the full article
Africa Specialty Risks adds new business development executive
9th March 2021
Pan-African focused reinsurance group Africa Specialty Risks Group (ASR) has announced the appointment of Constança Sampaio Soares as a Business Development Executive. Soares will be responsible for growing relationships with private equity funds, development finance institutions, and banks, as well as corporates and other potential partners. She brings extensive experience to the ... Read the full article
Africa Specialty Risks secures multi-year binder capacity with GIC and Peak Re
15th February 2021
Newly launched Pan-African focused reinsurer, Africa Specialty Risks Group (ASR), has secured additional multi-year binder capacity of up to $25 million per risk via a new partnership with GIC of India and Hong Kong domiciled Peak Re. ASR is now able to offer capacity across Property, Political Risk, Trade Credit, and ... Read the full article