PV specialist Africa Specialty Risks approved as a Lloyd’s coverholder

Africa Specialty Risks (“ASR”), the pan-African focused reinsurance group, has been approved as a coverholder at Lloyd’s.

As a Lloyd’s coverholder, ASR said it is able to work with Lloyd’s syndicates and manage delegated authorities  for specialist lines of business commencing with political violence (PV) and terrorism and leverage the Lloyd’s brand and licences, bringing much needed Lloyd’s capacity to Africa.

ASR was sponsored by managing agent Atrium to obtain its coverholder status.

Martin Boreham, director of underwriting and head of liability at ASR, commented: “Lloyd’s Coverholder status  enables ASR to enhance and complement Lloyd’s existing footprint in and across the African continent.”

Brian McGregor, director of underwriting and head of property at ASR added: “Becoming a Lloyd’s approved coverholder is an important step in our mission to bring much needed insurance capacity to Africa. This is mutually beneficial, broadening Lloyd’s reach in Africa and allowing  ASR to deepen its relationship with the world’s leading insurance market.”

Stuart Harmer, terrorism and PV underwriter at Atrium commented: “Atrium is extremely proud to be a leading supporter of Africa Specialty Risk writing PV business and very much look forward to a successful partnership.”

Africa Specialty Risks was launched by Helios Investment Partners LLP 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.