Africa Specialty Risks (ASR), the developing markets-focused re/insurance group, has secured a new strategic investment from international investment firm Vitruvian Partners.
The transaction was first announced on June 2, 2026 and marks Vitruvian succeeding Helios Investment Partners, who have been ASR’s majority shareholder since the company’s inception in 2020.
Through this partnership with Vitruvian, ASR will continue to advance its mission to enable sustainable economic development by meeting insurance needs.
ASR’s goal is to be the reinsurance platform of choice for developing markets by providing additional new speciality lines and solutions, access to global A-rated capacity, advanced technology capabilities, expanded underwriting at Lloyd’s, and geographic expansion outside of Africa and the Middle East.
Mikir Shah, Chief Executive Officer, Africa Specialty Risks, had previously commented: “I’m delighted to welcome Vitruvian Partners as our new lead investor. Since its launch in 2020, ASR has enjoyed a significant growth trajectory, and this new partnership will help us realise our ambition to be the go-to reinsurer for developing markets.
“I want to thank Helios Investment Partners, who have been a supportive partner for ASR since inception and have helped us realise the fantastic growth we’ve achieved in five years. I look forward to working closely with Vitruvian and continuing our next phase of growth as we continue to enable sustainable economic development by fulfilling unmet insurance needs.”
Tassilo Arnhold, Partner, Vitruvian, added: “We are delighted to be partnering with Mikir and the broader ASR team, who have built an impressive business to date by solving a critical and increasing (re)insurance gap in developing markets. We look forward to working with ASR to further expand across various product lines and across developing market regions globally.”
Jamie Hollins, Partner, Helios Investment Partners, said, “ASR exemplifies Helios’ strategy of partnering with outstanding founders to build market-leading platforms that address critical gaps in African and developing market ecosystems.
“In just five years, Mikir and the ASR team have scaled the business at an exceptional pace, combining underwriting discipline, technological innovation and global reach.
“We are proud to have supported ASR from launch and are confident that Vitruvian’s partnership will accelerate the company’s ambition to scale internationally and broaden its solutions for clients across developing markets.”
