London, 10 November 2022 – Africa Specialty Risks (“ASR”), the pan-African focused reinsurance group, is pleased to announce that it has been granted Casablanca Finance City (CFC) status by the country’s Minister of Economy and Finance.
Morocco is one of ASR’s key markets and this further illustrates ASR’s commitment to the region, adding to the already established office in Mauritius with plans to expand further across the continent in the future.
Since its inception in 2020 ASR has written business in 47 countries across Africa and counts over 60 employees.
Mikir Shah, CEO of ASR commented, “North Africa is an important territory for ASR and we are very pleased to be working with the Casablanca Finance City authority to deliver tailored insurance products to businesses across Morocco, North Africa and the Francophone market.”
Lamia Merzouki, Deputy General Manager of Casablanca Finance City Authority commented, “ASR is a leader in providing bespoke and innovative corporate and specialty risk mitigation solutions, and their expertise and offering will help meet the growing demand for insurance across Africa. ASR’s ambitions in Africa are aligned with Casablanca Finance City Authority’s objective with a shared approach for promoting value creation while serving the growth and global standing of the continent.”
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Media Enquiries
Mikir Shah, CEO
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Heather Armstrong
Tim Pearson
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About ASR
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.
About Casablanca Finance City Authority
Casablanca Finance City Authority (CFCA), a private limited company established in 2010 as a public-private partnership, is legally responsible for managing and promoting Casablanca Finance City. CFC is a regional economic and financial hub and is an attractive gateway for doing business in Africa, particularly in North, West and Central Africa. Follow us on Twitter@Casafinancecity LinkedIn: www.linkedin.com/company/casablanca-finance-city.