London, 22 February 2023 – Africa Specialty Risks (“ASR”), the pan-African focused reinsurance group, has been approved as a coverholder at Lloyd’s, the world’s leading specialist insurance and reinsurance market.
As a Lloyd’s Coverholder, ASR is 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 Lloyd’s brand and licences to bring much needed Lloyd’s capacity to Africa.
ASR is now able to promote the Lloyd’s brand and solutions across Africa, having written business in 47 African countries across nine lines of business.
ASR strives to provide capacity to Africa from (re)insurers with strong security and robust credit ratings. This is vital to unlocking investment, increasing insurance penetration and provide greater protection for businesses and investors operating in and across the continent
ASR was sponsored by Atrium, a Managing Agent at Lloyd’s to obtain its coverholder status.
Martin Boreham, Director of Underwriting and Head of Liability at ASR, commented: “ASR is the only Africa focused (re)insurance capacity provider with a comprehensive corporate and specialty risk mitigation offering. Lloyds Coverholder status enables ASR to enhance and complement Lloyd’s existing footprint in and across the African continent.”
Brian McGregor, Director of Underwriting and Head of Property at ASR, commented: “Becoming a Lloyd’s approved coverholder is an important step in our mission to bring much needed insurance capacity to Africa. This is mutually beneficial , broadening Lloyd’s reach in Africa and allowing ASR to deepen its relationship with the world’s leading insurance market.”
Stuart Harmer, Terrorism and Political Violence Underwriter at Atrium commented: “Atrium are extremely proud to be a leading supporter of Africa Specialty Risk writing Political Violence business and very much look forward to a successful partnership as ASR continues to demonstrate market leading knowledge and expertise.”
Amit Khilosia, Lloyd’s Head of Africa, commented: “I’m extremely proud to welcome ASR to Lloyd’s as a coverholder. This demonstrates our shared commitment to Africa and very much look forward to working with ASR to deliver efficient access to Lloyd’s products and capacity ”
Mikir Shah, CEO
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.