Insuring a sustainable and resilient future
Our Approach to Sustainable Development
At ASR, we are committed to shaping a sustainable and resilient future. As a key player in the corporate and specialty (re)insurance sector in emerging markets, we recognise the importance of actively supporting sustainable development in these regions. This commitment drives our actions, from designing bespoke products to meet local needs, to actively advocating for the insurance industry and addressing the unique needs of emerging markets at influential global events.
We incorporate environmental, social and governance considerations into our business practises and decision-making processes at every level. Through our co-insurance model we have built partnerships with local and international re-insurers with the view to bolster insurance penetration, reducing the insurance gap, and assisting our key partners in retaining risk effectively.
Social Responsibility
At ASR, we are committed to diversity and inclusion. We recognise that our success is closely tied to the highly diverse backgrounds and perspectives within our workforce, which spans over 20 nationalities. With 75% of our employees being multilingual and 43% of the team being female, we are committed to creating opportunities for all. Our senior leadership team is comprised of individuals with deep roots in Africa or extensive experience working across the continent, showcasing our a belief in a diverse talent pool at all levels of the group. Together, we are building a culture where every voice is heard and every perspective is valued.
ECOVADIS
For the second consecutive year, Africa Specialty Risks Ltd has been awarded a Silver Medal from EcoVadis, in recognition of its sustainability efforts. This achievement positions ASR in the top 87th percentile among all companies assessed in 2024 across 175 countries and 200 industries, and top 15% across industry peers. The EcoVadis methodology measures the quality of a company’s sustainability management system through 3 management indicators – policies, actions, and results – and 21 sustainability criteria, across 4 themes: Environment, Labor & Human Rights, Ethics, and Sustainable Procurement.
Noteworthy is ASR’s exceptional performance in the field of ethics, driven by a commitment to prioritising employees. Examples include a robust Code of Ethics, Data Protection and a comprehensive Complaints Policy procedure, as well as comprehensive policies addressing fraud, corruption and conflicts of interest.
Africa Specialty Risks is dedicated to responsible actions for all stakeholders, ensuring our business practices do not adversely impact future generations. The EcoVadis scorecard will guide us in identifying current areas for improvement on a yearly basis, informing our ESG (Environmental, Social, and Governance) strategy to maintain our high-performance standards.
At ASR we are making a difference
Explore ASR’s impact through our case studies highlighting our commitment to effecting change and protecting emerging markets.
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Empowering Advanced Agriculture Transformations
Drought, floods, and soil degradation limit Zambian farmers, affecting crop productivity and causing acute food insecurity for around 1.59 million people.
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Enhancing Resilience to Natural Catastrophe
Cyclones are an increasing threat to vulnerable populations, like that of Mozambique and having adverse effects on the economy.
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Unlocking Africa’s Solar Revolution
Volatility in energy prices can result in solar plants becoming uneconomical when energy prices dip below production costs.
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