ASR will begin by offering Political Violence and Terorrism cover across 47 African countries
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.
Bringing A-rated capacity to 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.
“Lloyd’s 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, added: “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.”
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 ”
No comments yet