LONDON, DUBAI, 1 July 2024,/ African Media Firm/- Africa Specialty Risks ( ASR), the pan-African and Center East concentrated reinsurance team, delights in to introduce the opening of its Dubai workplace, its very first between East.
‘ ASR Center East’, will certainly strengthen its incorporate the Emirate and the bigger area, where the Team has actually been creating company considering that February 2022. The brand-new workplace lies within the Dubai International Financial Centre (DIFC), the leading international economic center between East, Africa, and South Asia (MEASA) area.
Mikir Shah, Ceo of Africa Specialized Risks
Mikir Shah, Ceo of Africa Specialized Risks, stated: “I am happy that our brand-new ASR Center East workplace in Dubai is currently open. Developing an existence in Dubai is an all-natural following action for us as we remain to expand in the area and reinforce our capability to assist in and de-risk the inter-regional profession in between Africa and the Center East.”
Salmaan Jaffery, Principal Service Growth Police Officer, DIFC Authority, stated: “We invite ASR Center East to DIFC, which is currently the inmost reinsurance market in between London and Singapore. As Dubai remains to increase as an international center for insurance coverage and reinsurance, this critical action placements the company completely for growth and boosted solution shipment for customers throughout vital development markets.”
ASR started financing in February 2021 and has actually considering that been de-risking USD 23bn well worth of tasks and properties, in addition to composed company throughout 14 nations between East and 49 African nations.
Zouheb Azam, Head of Political Physical Violence & & Terrorism of Africa Specialized Risks
The company’s Center East growth is led by Zouheb Azam, Head of Political Physical Violence & & Terrorism of Africa Specialized Risks, that is additionally to handle the duty of Elder Exec Police Officer, ASR Center East. Talking about the action, he stated: “The opening of our brand-new workplace in DIFC stands for an interesting following stage of development. It places us at the international cross-roads for economic and insurance coverage solutions and will certainly permit ASR to grow connections with brokers, re- insurance companies and companies in the area. Our Dubai workplace will certainly match our existing procedures and the development we have actually made throughout Africa in creating bespoke and thorough danger alleviating options for creating markets.”
Born in France, Mr. Azam has 15 years’ experience of both Africa and the Center East as a broker and expert, and has a wide range of historical experience connections within the area. Before signing up with ASR, Zouheb has actually gotten Center Eastern and sector experience with Gras Savoye, Willis Tower Watson and AXA.
ASR Center East will certainly be supplying an extensive collection of business and specialized covers throughout all 9 of its company lines, sustaining corporates and financiers running in the area.
The Dubai workplace is readied to contribute to ASR’s currently well established network of properties in London, Mauritius, Bermuda and Morocco, and allows boosted customer care and cooperation with company companions around the world. The launch of DIFC workplace will certainly additionally reinforce ASR’s African profile and assist in growth of its Center Eastern publication of company.
The opening complies with ASR getting governing authorization from the Dubai Financial Solution Authority (DFSA), the independent regulatory authority of economic solutions carried out in or from the DIFC, in December 2023 (see release here).
Dispersed by African Media Agency ( AMA) in behalf of Africa Specialized Risks
About ASR
Africa Specialized Threats (ASR) supplies thorough danger alleviating options via premium quality underwriting to regional and international consumers throughout Africa and the Center East, with procedures in London, Mauritius, Bermuda, Morocco. Given that its launch, ASR took part in the de-risking of $23 bn of tasks and properties throughout 63 nations.
In enhancement to our Bermuda and Mauritius reinsurers, ASR’s one-of-a-kind co-reinsurance design includes working together with regional and global (re) insurance provider. In 2024, ASR released Organization 2454, it is the very first African concentrated organization creating company at Lloyd’s.
Across the team, ASR finances throughout Political Threat, Profession Credit Scores, Political Physical Violence & & Terrorism, Residential Or Commercial Property, Power, Building, Responsibility, Parametric and Treaty. ASR additionally supplies an end-to-end restricted remedy to business and banks.
ASR is backed by Helios Financial investment Allies’ Fund IV and gain from their comprehensive reach throughout Africa, in addition to their expertise and experience in our vital markets.
Media Enquiries:
Africa Specialized Risk
Mikir Shah, CEO
Via Tavistock
Tavistock Communications Ltd
Tim Pearson
Katie Hopkins
asr@tavistock.co.uk
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