Africa Specialty Risks Launch Bermuda Reinsurer
Africa Specialty Risks [ASR], the pan-African focused reinsurance group, announced that it has launched a licensed reinsurance entity in Bermuda.
“The Group will offer a full suite of products from its Bermudan reinsurer, including Political Risk & Trade Credit, Political Violence & Terrorism, Property, Energy, Liability, Construction and Parametric,” the company said.
“Once rated, this capacity will be used to bolster our current MGA capacity supporting investment and business into and throughout Africa. Bermuda is a Solvency II equivalent global reinsurance hub.”
Mikir Shah, CEO at ASR, commented: “Launching our reinsurer in Bermuda is another big step for Africa Specialty Risks as we continue to build a comprehensive offering of specialty reinsurance products and services for the African markets and beyond.
“The island is an important centre of finance and increases our footprint. The reinsurer will work closely with our group companies in London and Mauritius.”
ASR was launched by Helios Investment Partners LLP [Helios] in partnership with Mikir Shah, former CEO of AXA Africa Specialty Risks and Bryan Howett, former CEO of Old Mutual’s pan-African reinsurance operations.
