Africa’s specialist risks ensure mackerel’s capabilities
African Specialist Risks (ASR) has entered into a binding authorities agreement with Slovenia-based reinsurer Sava Re.
Under the terms of the agreement, Sava Re offers line sizes up to $10 million for ASR core classes.
The agreement is said to provide a SAVA that will enhance access to risks stemming from Africa, the Middle East and other developing markets.
Sava Re, the operator of Sava Insurance Group, serves more than 450 partners in over 100 reinsurance markets around the world.
ASR CEO Mikir Shah said: “Sava Re is one of the most powerful reinsurers in CEE (Central and Eastern Europe) with excellent risk and capital management, and is demonstrated by its financial strength assessment. By participating in this partnership, we will allow access to key capabilities that can be deployed in market development.
“There is a huge demand for specialized insurance solutions across Africa, the Middle East and the growth economy, and ASR is at the forefront of meeting this demand.”
Sava Re Management Board Chairman Marko Jazbec said: “This agreement with ASR will allow us to increase our footprint in Africa, the Middle East and developing markets. While ASR has a strong distribution network across these regions, it is possible to add geographic diversification to its portfolio, we can see that we are partnering with diligent, key underwriting-focused companies.”
Earlier this month, ASR I got permission Because ASR North Africa operates as Lloyd’s services company.
The approval allows the company to take on behalf of Syndicate 2454, giving direct access to Lloyd’s capabilities to brokers in Morocco and Northwest Africa.
“African Specialist Risk Protects SAVA RE CAPICIOL” was originally created and published Life Insurance Internationala brand owned by GlobalData.
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