MENA: Africa Specialty Risks operates as a Lloyd's service company

Source: Middle East Insurance Review | Nov 2024

Africa Specialty Risks (ASR), the pan-African and Middle East focused (re)insurance group, has announced that its UK-based entity is operating as a Lloyd’s service company, underwriting on behalf of ASR Syndicate 2454.

The UK entity is now able to write up to $10m per risk across its political violence and terrorism, energy, construction, property and liability lines of business, with additional lines to be added, subject to necessary approvals.

This development provides brokers in Africa and the Middle East more efficient access to the Lloyd’s market through its service company and also complements ASR’s existing partnerships with other reinsurers.

ASR Syndicate 2454 active underwriter and director of underwriting at ASR Martin Boreham said, “This agreement provides African brokers access to the A+ paper of Lloyd’s and is a step towards our ambition of being the go-to Lloyd’s market for the continent.” M

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