Africa Specialty Risks (ASR) has commenced operations as a Lloyd’s service company, enhancing its underwriting capabilities through its UK entity, Africa Specialty Risks Ltd. This allows ASR to write up to $10 million per risk across various sectors including political violence, energy, and property, thus improving access for brokers in Africa and the Middle East to the Lloyd’s market. With the establishment of ASR Syndicate 2454, the company aims to fill the insurance capacity gap in Africa and strengthen its partnerships with other reinsurers in the region. ASR’s efforts are part of a broader goal to close the insurance gap in Africa, with projections to write approximately £70 million in gross premiums for 2024.