“We know this is a continent that has got huge developmental needs and potential, so we want to make sure the continent can achieve its potential through our de-risking products” commented Mikir Shah, ASR CEO, during a recent catch-up with Francis Churchill of Insurance Day on the promising opportunities in the African (re)insurance market.
Mikir highlighted the continent’s vast potential for portfolio diversification, driven by the African Continental Free Trade Area (AfCFTA) and the growing demand for (re)insurance solutions from businesses of all sizes.
Key points from the interview include:
▷ The increasing demand from trade credit products to cargo and marine protection
▷ How ASR’s de-risking products are empowering African businesses
▷ How Lloyd’s consortium ties into our vision to deploy more capacity across Africa
Brian McGregor, Director of Underwriting & Head of Property and Martin Boreham, Director of Underwriting & Head of Liability weighed in on the low levels of insurance penetration on the continent and how building Lloyd’s consortia is a perfect vehicle to help decrease the insurance gap.
Read the full article here.