London-headquartered Africa Specialty Risks (ASR), the developing markets-focused (re)insurance group, yesterday announced the launch of Syndicate 2454 in South Africa.
Based in Sandton in northern Johannesburg, ASR’s syndicate underwriters will underwrite insurance and reinsurance risks in South Africa and neighbouring countries, providing 'AA'-rated capacity to the local market across bespoke specialty lines.
ASR has made significant underwriting hires in the country, with additional executives and underwriters to join the company throughout 2026.
ASR CEO Mikir Shah said, “South Africa has always been and remains a key market for us, and this launch allows us to write risks directly in the market, ensuring we’re close to our customers while offering AA rated global capacity.
“Given South Africa’s recent sovereign S&P upgrade, along with a successful hosting of the G20, this is an excellent time for the continent, and I look forward to ASR supporting economic development in South Africa.”
Mr Amit Khilosia, Chief Distribution Officer, ASR, added, “Our Lloyd’s syndicate 2454 will be the first of its kind to establish underwriting capability on the ground outside the UK, allowing us to increase the depth of our offering, including providing partners with (co)insurance solutions direct to the Lloyd’s Open Market Correspondents [OMC] network and insurers in the country.”