Africa Specialty Risks (ASR), the pan-African focused reinsurance group, has continued to expand its offering with the launch of new liability capacity, alongside the appointment of Martin Boreham as head of Liability Underwriting.
Boreham has over 30 years’ experience within the insurance industry and joins ASR after eight years at MS Amlin, where he was the product lead for International Casualty.
Prior to this role, he was portfolio manager at QBE and london casualty business leader at GE Insurance. He is also a Fellow of the Chartered Insurance Institute and a Chartered Insurer.
ASR will specialise in offering liability solutions cover encompassing general liability, professional indemnity, Directors and Officers (D&O) and financial lines and will offer tailored liability insurance throughout Africa across a wide range of industries.
The liability division will write products proportionally or non-proportionally and said it is looking forward to working with and writing risks for well managed and presented businesses that have a strong risk management ethos.
Mikir Shah, CEO of ASR, commented: “De-risking and facilitating inward investment across Africa is core to our values, shaping our growth as we continue to do business across the continent. The launch of the Liability business line increases ASR’s coverage offering to businesses all over Africa. Martin’s experience will undoubtedly be an asset to the whole ASR team – we are very pleased to be welcoming him to the Group.”
Martin Boreham commented: “I was drawn to the passion and ambition of Mikir, Bryan and the whole ASR team. The quality and depth of knowledge throughout the business forms a great building block to drive ASR forward through the African continent and beyond”
ASR was launched by Helios Investment Partners 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.
The group announced in February that it had secured an additional multi-year binder capacity of up to $25 million per risk through a partnership with GIC of India and annual capacity from Peak Re.
Last month it also expanded its offering with additional war, political violence and terrorism (PVT) capacity.