Africa Specialty Risks (ASR), a prominent pan-African reinsurance group, has introduced its captives solution, marking a significant advancement in risk management.
ASR’s captives solution is a partnership-driven model that allows businesses and financial institutions to exercise greater control and flexibility over their insurance programs.
The solution involves creating, managing, and administering the captive, while ASR shares the risk with the captive owner, effectively reducing the overall cost of risk and enhancing risk management.
ASR has played a pivotal role in de-risking approximately $1.1 billion for Mauritian businesses and investments, spanning various insurance covers such as construction, energy, liability, property damage, political violence, terrorism, and trade credit.
The launch of this new range of captive solutions is set to address the ongoing challenge of insurance capacity in Africa, supporting companies in minimising risks associated with investments and commercial operations.
ASR’s commitment to local development, environmental, social, and governance considerations aligns with its ethos of bolstering local capacities and contributing to sustainable growth.
The initiative comes as ASR participates in the Organisation of Eastern and Southern Africa Insurers (OESAI) Annual Conference and General Assembly in Mauritius, affirming its central role in the African reinsurance landscape.
Source: africa.com
