Reinsurance News
Africa Specialty Risks
Africa Specialty Risks receives ‘in-principle’ approval to launch Lloyd’s syndicate
8th December 2023
Pan-African focused insurer and reinsurer, Africa Specialty Risks (ASR), has now received ‘in-principle’ approval to launch a Lloyd’s syndicate in 2024, which aims to begin underwriting in March 2024 with a focus on underwriting business across Africa. The ‘in-principle’ approval from the Lloyd's Council remains subject to additional financial and operational ... Read the full article
Africa Specialty Risks launches captive solution
29th August 2023
Africa Specialty Risks (ASR), the pan-African reinsurance group, has announced the launch of its captives solution to allow businesses and financial institutions to have greater control and flexibility over their insurance programs. According to ASR, it will jointly participate in the Annual Conference and General Assembly of the Organization of Eastern ... Read the full article
Mozambique secures $35m cyclone parametric reinsurance placement
22nd March 2023
The Mozambique government has secured USD 35 million of parametric cyclone insurance via the National Institute of Disaster Management (INGD), supported by Africa Specialty Risks, The World Bank, and PULA. The inaugural, Mozambique cyclone parametric reinsurance program is designed to provide the country's economy with resilience against the effects of cyclones ... Read the full article
Lloyd’s approves Africa Specialty Risks as coverholder
22nd February 2023
Africa Specialty Risks (ASR), a pan-African focused reinsurance group, has been approved as a coverholder at Lloyd’s, the specialist re/insurance market. This means that ASR will be able to work with Lloyd’s syndicates and manage delegated authorities for specialist lines of business commencing with Political Violence and Terorrism and leverage the ... Read the full article
Africa Specialty Risks appoints Ciaran O’Donnell as CFO
7th February 2023
Pan-African focused re/insurance group Africa Specialty Risks (ASR) has announced the appointment of Ciaran O’Donnell as Chief Financial Officer following co-founder Bryan Howett's decision to step down from the role to pursue other opportunities. O’Donnell is an experienced CFO with extensive international financial and operational knowledge in the insurance industry, having ... Read the full article
Africa Specialty Risks appoints Sean Paradine as senior treaty underwriter
15th December 2022
Africa Specialty Risks (ASR) has appointed Sean Paradine to be its new senior treaty underwriter. Paradine, said the firm in a statement, joins from WR Berkley where he was a senior vice president focused on treaty underwriting in Sub-Saharan Africa. Before WR Berkley, Paradine spent over twenty years at Everest Re. Mikir ... Read the full article
Africa Specialty Risks partners with Africa Re on political risk & trade credit
22nd November 2022
Africa Specialty Risks and the African Reinsurance Corporation have announced that they have entered into a partnership agreement on the provision of Political Risk and Trade Credit Insurance through an Underwriting Authority Agreement which brings in a $10 million multi-year capacity for risks situated in Africa and the Middle East. Read the full article
Africa Specialty Risks partners with Société Centrale de Réassurance
18th November 2022
Pan-African (re)insurer Africa Specialty Risks (ASR) has entered a partnership agreement with Moroccan reinsurer Société Centrale de Réassurance (SCR). A joint statement said that the pair will be combining capacities to write multi-business line coverage across Africa and the Middle East, with the joint capacity being led by the ASR team ... Read the full article
Africa Specialty Risks energy division capacity increases to $38m
13th May 2022
Pan-African focused reinsurance group, Africa Specialty Risks (ASR) has announced that its energy division capacity has increased to $38 million. The reinsurer stated that the increase was provided through their ongoing relationship with GIC Re and Peak Re. The increase follows on from twelve months of profitable underwriting results for ASR’s portfolio ... Read the full article
ASR Re gains B++ strength rating from AM Best
19th August 2021
ASR Re, the newly launched Bermuda subsidiary of pan-African reinsurer Africa Specialty Risks (ASR), has been assigned a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of “bbb+” (Good) by AM Best. The ratings, which both have a stable outlook, reflect ASR’s consolidated balance sheet strength, ... Read the full article
ASR hires Krishna Bheenick as Managing Director, Mauritius
18th August 2021
Africa Specialty Risks (ASR), the pan-African focused reinsurance group, has appointed Krishna Bheenick as Managing Director in Mauritius. Bheenick brings a wealth of experience in the Insurance and wider Financial Services sector in Mauritius and internationally, having held senior positions at SWAN General, Mauritius Commercial Bank, XL Catlin Insurance (UK), Munich ... Read the full article
Africa Specialty Risks launches Bermuda reinsurer
6th August 2021
Africa Specialty Risks (ASR), the pan-African focused reinsurance group, has announced the launched of a licensed reinsurance entity in Bermuda. The group plans to offer a range of products from its Bermudan reinsurer, including Political Risk & Trade Credit, Political Violence & Terrorism, Property, Energy, Liability, Construction and Parametric solutions. Once rated, ... Read the full article
ASR secures additional $10mn capacity for PVT from Atrium Underwriting
22nd July 2021
Africa Specialty Risks (ASR) has secured an additional $10 million capacity for its Political Violence and Terrorism (PVT) division from Atrium Underwriting (Atrium). This is in addition to the multi-year binder capacity across all of ASR’s business lines, of up to $25 million per risk through a partnership with GIC of ... Read the full article
Amir Hussain joins Africa Specialty Risks political violence team
19th July 2021
Pan-African focused reinsurance group Africa Specialty Risks (ASR) has announced the appointment of Amir Hussain as an Underwriter within its Political Risk and Trade Credit team. Hussain joins from Hamilton Insurance Group, where he also served as a Political and Credit Risk Underwriter. Prior to this, he held similar roles with AmTrust ... 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
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