Africa Specialty Dangers (ASR), the pan-African targeted reinsurance group, introduced its vitality division’s capability elevated to $38 million, offered via its ongoing relationship with GIC Re and Peak Re.
This follows 12 months of worthwhile underwriting outcomes for ASR’s vitality portfolio, stated ASR, noting that it offers protection for the complete African continent together with upstream, downstream, energy, utilities, and renewables. Up to now, ASR has offered insurance coverage cowl in additional than 20 African international locations.
“We’re delighted with the numerous improve in our total capability and are dedicated to offering insurance coverage cowl to help our shoppers and companions throughout the continent within the wake of the present vitality disaster,” commented Suzan Pardesi, head of Power underwriting at ASR.
“Africa is endowed with ample renewable vitality sources, upon which it may well sustainably base its formidable socio-economic growth and ASR will help vitality choices which can present profound welfare and environmental advantages to individuals throughout the continent,” Pardesi added. “Power value, demand, and safety is on the prime of the worldwide agenda, and it’s important that particular person insurers map a course that may realistically meet vitality demand in Africa.”
The London-based ASR was launched in September 2020 by Helios Funding Companions LLP in partnership with Mikir Shah, former CEO of AXA Africa Specialty Dangers, and Bryan Howett, former CEO of Previous Mutual’s pan-African reinsurance operations. An appointed consultant of Crispin Speers & Companions Ltd., ASR operates as a managing normal agent.
Supply: Africa Specialty Dangers
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