London, 1 December 2025 – Africa Specialty Risks (“ASR”), the developing markets focused (re)insurance group, today announces its entry into cyber insurance with the launch of a digital quote-and-bind policy for businesses in Africa.
Offered exclusively through ASR 24-7, ASR’s automated underwriting platform, the policy will provide up to USD $5 million in coverage to African businesses with revenues of up to USD $100 million.
Initially available in South Africa, Namibia and Mauritius, ASR will leverage its extensive distribution network across the African continent to address a significant risk gap caused by the limited availability of cyber insurance.
Further markets will be brought online in the near future, with the cyber policy eventually available across the entire continent. Policies will be backed by Lloyd’s AA rated security.
ASR 24-7 offers quote-and-bind capabilities for authorised brokers without the need for manual underwriter input.
The new cyber policy also provides insureds with access to cyber support, including incident response and pre-incident services such as threat intelligence and security reports to strengthen overall cyber resilience.
Mikir Shah, Chief Executive Officer at ASR, said: “There is a pressing need for cyber insurance across the African continent, which remains woefully under-served despite facing an active cyber threat landscape similar to that of developed markets.
“ASR is meeting this need by offering a Lloyd’s cyber insurance solution for African businesses. This new product is backed by a panel of leading vendor partners who can assist companies both in preparation for, and in response to, any cyber incident. We look forward to rolling out cyber coverage across the whole continent in the coming months via our ASR 24-7 platform.”
Media Enquiries
Tavistock Communications Ltd
Katie Hopkins, Kuba Stawiski
asr@tavistock.co.uk
About ASR
Africa Specialty Risks (ASR) is enabling sustainable economic development by fulfilling unmet insurance needs. Our platform provides local underwriting expertise, an unparalleled distribution network and access to global capacity.
Founded in the heart of Africa and with offices across the continent and the Middle East, we provide regional market knowledge, data insights, and technical proficiency for capital partners who are looking to increase their presence in growth markets.
We also participate on each and every risk we underwrite with balance sheets in Bermuda, Mauritius and through Syndicate 2454 at Lloyd’s. ASR is committed to accelerating business growth by providing customised service and innovative insurance products to enable development.