ASR Middle East
Specialty reinsurance and risk solutions for developing markets across Africa and the Middle East.
Overview
ASR Middle East (Africa Specialty Risks) is a specialty reinsurance MGA and Lloyd's Syndicate 2454 operator providing risk mitigation solutions for insurance and reinsurance buyers across Africa and the Middle East. Founded in August 2020 by Helios Investment Partners alongside Mikir Shah and Bryan Howett -- both with extensive pan-African insurance backgrounds -- ASR operates balance sheets in Bermuda, Mauritius, and through its Lloyd's syndicate to deliver local underwriting capacity backed by international markets.
The company writes across a broad range of specialty lines including political violence and terrorism, political risk and trade credit, property and construction, energy, parametric, liability, marine, aviation, security risk, and cyber coverage. ASR's Middle East entity opened as a Lloyd's service company in Dubai International Financial Centre (DIFC) in July 2024, enabling underwriting of business in the UAE on behalf of ASR Syndicate 2454. ASR leads the Baobab Consortium, launched in January 2025 as the first Lloyd's Consortium focused exclusively on African risks, with capacity of up to USD 26 million per risk.
With operations across 54 African countries and 14 Middle Eastern countries, ASR has de-risked over USD 51 billion in African investments. The company employs over 100 professionals across six global offices, drawing on more than 20 nationalities to support its developing-market focus. Capacity is sourced via Helios Investment Partners backing, the Lloyd's market, and partnership arrangements with carriers including Eureka Re, Sava Re, and other Lloyd's syndicates within the Baobab Consortium.
Products & Services
Political Violence & Terrorism Insurance
Covers businesses and assets operating in volatile regions, focusing on African and Middle Eastern markets experiencing political instability.
Key Features
- Political violence events including riots, strikes, and civil commotion
- Terrorism acts and sabotage
- War and allied perils
Target Users: Multinational corporations and investors with operations in developing markets
Distribution: Wholesale brokers, direct partnerships
Political Risk & Trade Credit Insurance
Addresses sovereign and sub-sovereign risks affecting cross-border trade and investment, including currency transfer restrictions and expropriation.
Key Features
- Currency inconvertibility and transfer restrictions
- Expropriation and nationalization
- Contract frustration and trade credit defaults
Target Users: Exporters, investors, development finance institutions
Distribution: Wholesale brokers
Property & Construction Insurance
Specialized underwriting for construction and property assets in Africa, covering risks typical of developing infrastructure environments.
Key Features
- Construction all-risk
- Operational property damage
- Delay in start-up
Target Users: Infrastructure developers, construction firms, project finance lenders
Distribution: Wholesale brokers
Energy Sector Coverage
Dedicated underwriting for oil, gas, and renewable energy projects in emerging markets.
Key Features
- Operational energy risks
- Renewable energy projects
- Upstream oil and gas
Target Users: Energy companies, project developers, lenders financing African and Middle Eastern energy assets
Distribution: Wholesale brokers, Lloyd's coverholders
Parametric Insurance
Index-based products that trigger payouts based on measurable events rather than loss assessment, reducing settlement delays in markets with limited infrastructure.
Key Features
- Weather-based triggers (rainfall, temperature, wind)
- Commodity price indices
- Seismic and catastrophe parameters
Target Users: Governments, agricultural operators, development organizations
Distribution: Direct and wholesale
Liability, Marine & Aviation Insurance
Comprehensive liability, marine cargo, hull, and aviation coverage tailored for operators in Africa and the Middle East.
Key Features
- General and professional liability
- Marine cargo and hull
- Aviation hull and liability
Target Users: Shipping companies, airlines, commercial liability holders operating in developing markets
Distribution: Wholesale brokers
Cyber Insurance
Information security and digital risk coverage for businesses in emerging markets.
Key Features
- Data breach and cyber incident response
- Business interruption from cyber events
- Third-party liability
Target Users: Financial institutions, telecoms, and enterprises with digital operations in Africa and the Middle East
Distribution: Wholesale brokers
Captive Solutions & Treaty Reinsurance
Risk financing and captive management for multinationals with African exposure, alongside treaty reinsurance capacity for insurers writing African risks.
Key Features
- Captive structuring and management
- Proportional and non-proportional treaty reinsurance
- Quota share and excess of loss arrangements
Target Users: Multinational corporations, local insurers seeking reinsurance support
Distribution: Direct, via reinsurance intermediaries
At a Glance
- Founded
- 2020
- Headquarters
- London, UK
- Employees
- 51-200
Category & Focus
Last updated: 2026-06-22