London, 06 August 2021 – Africa Specialty Risks (“ASR”), the pan-African focused reinsurance group, is pleased to announce that it has launched a licensed reinsurance entity 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 our current MGA capacity supporting investment and business into and throughout Africa. Bermuda is a Solvency II equivalent global reinsurance hub.
Mikir Shah, CEO at ASR, commented: “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.
“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 by Helios Investment Partners LLP (“Helios”) 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.
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Mikir Shah, CEO
Bryan Howett, CFO
Africa Specialty Risks (ASR) provides comprehensive risk transfer solutions through high quality underwriting to local and global customers across the African continent, giving them the confidence to grow their businesses sustainably.
ASR works proactively with local regulators to develop skills and provide training to local underwriters. Environmental, social, and governance considerations are central to ASR’s values, particularly in relation to local capacity building.
ASR is backed by Helios Investment Partners’ Fund IV and benefits from their extensive reach across Africa, as well as their knowledge and experience in our key markets.
Africa Specialty Risks Ltd. is an Appointed Representative of Crispin Speers & Partners Ltd. We operate as a Managing General Agent sourcing world leading capacity for African insurance and reinsurance risk. We are a proud member of the MGA Association.