Africa Specialty Risks Launches as Lloyd’s Service Company to Boost Insurance Access in Africa
Africa Specialty Risks Launches as Lloyd’s Service Company to Boost Insurance Access in Africa

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Africa Specialty Risks Ltd (ASR Ltd) has commenced operations as a Lloyd’s service company, underwritten through ASR Syndicate 2454, enabling it to cover risks up to $10 million in various sectors such as Political Violence and Terrorism, Energy, Construction, Property, and Liability. This strategic move aims to enhance ASR’s distribution capabilities and offer African and Middle Eastern brokers improved access to the Lloyd’s market, thereby addressing the regional insurance gap. ASR, which currently operates in multiple locations including London and Mauritius, aims to write gross premiums of approximately GBP70 million ($92 million) for 2024. The development is seen as a significant step toward increasing insurance capacity and providing comprehensive risk solutions across Africa.

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