Africa Specialty Dangers (ASR), a reinsurance group centered on the pan-African and Center East areas, has formally opened a brand new workplace in Dubai Worldwide Monetary Centre (DIFC) within the United Arab Emirates (UAE).
This marks the corporate’s first location within the Center East area. Named ASR Center East, the unit will concentrate on strengthening the corporate’s presence within the Emirates and the broader area.
ASR has been energetic within the Center East since February 2022 and acquired ‘in precept’ approval from the Dubai Monetary Service Authority for firm registration in January 2024.
Since its inception in February 2021, ASR has been concerned in de-risking initiatives and belongings price $23bn (£18.21bn) and conducting enterprise throughout 14 Center Japanese nations and 49 African nations.
The corporate intends to make use of its Dubai workplace to additional improve its customer support and facilitate collaboration with international enterprise companions.
Moreover, it’s anticipated to bolster the corporate’s African portfolio and help the growth of its Center Japanese enterprise actions.
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Africa Specialty Dangers CEO Mikir Shah stated: “I’m delighted that our new ASR Center East workplace in Dubai is now open. Establishing a presence in Dubai is a pure subsequent step for us as we proceed to develop within the area and strengthen our skill to facilitate and de-risk the inter-regional commerce between Africa and the Center East.”
Main the growth within the Center East is Zouheb Azam, who holds the place of head of political violence & terrorism at ASR.
Azam, with 15 years of expertise within the trade and area, will even function the senior government officer for ASR Center East.
His earlier roles embody positions at Gras Savoye, Willis Tower Watson and AXA.
ASR Center East will supply an array of company and specialty insurance coverage merchandise throughout ASR’s 9 enterprise traces.
These embody development, vitality, legal responsibility, parametric, political danger & commerce credit score, political violence & terrorism, property, safety danger and treaty.
The Dubai workplace joins ASR’s current community of places in London, Mauritius, Bermuda and Morocco.
DIFC Authority chief enterprise improvement officer Salmaan Jaffery stated: “We welcome ASR Center East to DIFC, which is now the deepest reinsurance market between London and Singapore.
“As Dubai continues to rise as a world hub for insurance coverage and reinsurance, this strategic transfer positions the agency completely for growth and enhanced service supply for purchasers throughout key progress markets.”
