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04.07.2024

Africa Specialty Risks officially opens office in Dubai International Financial Centre

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CWEIC Strategic Partner, Africa Specialty Risks (ASR), a pan-African and Middle East focused reinsurance group, has officially opened a new office in Dubai International Financial Centre. ASR Middle East’, will solidify its ties in the Emirate and the wider region, where the Group has been writing business since February 2022. The new office is located within the Dubai International Financial Centre (DIFC), the leading global financial hub in the Middle East, Africa, and South Asia (MEASA) region.

ASR Middle East will offer a full range of corporate and specialty insurance across all nine of its business lines, supporting corporations and investors in the region.

The new Dubai office will enhance ASR’s existing network, which includes locations in London, Mauritius, Bermuda, and Morocco. This expansion will improve customer service and collaboration with global business partners. Additionally, the DIFC office launch will strengthen ASR’s African portfolio and support the growth of its Middle Eastern business.

ASR, which began underwriting in February 2021, has been rapidly growing. It has de-risked USD 23 billion worth of projects and assets and written business across 14 countries in the Middle East and 49 African countries.

The firm’s Middle East expansion is led by Zouheb Azam, Head of Political Violence & Terrorism of Africa Specialty Risks, who is also to take on the role of Senior Executive Officer, ASR Middle East.

Born in France, Mr Azam has 15 years’ experience of both Africa and the Middle East as a broker and underwriter, and possesses a wealth of longstanding experience relationships within the region. Prior to joining ASR, Zouheb has gained Middle Eastern and industry experience with Gras Savoye, Willis Tower Watson and AXA.

Mikir Shah, Chief Executive Officer of Africa Specialty Risks, said: “I am delighted that our new ASR Middle East office in Dubai is now open. Establishing a presence in Dubai is a natural next step for us as we continue to grow in the region and strengthen our ability to facilitate and de-risk the inter-regional trade between Africa and the Middle East.”