Africa Specialty Risks opens first Middle East office in Dubai

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Pan-African and Middle East reinsurance group Africa Specialty Risks (ASR) has opened a new office in Dubai.

The office, the company’s first in the Middle East, is located in the Dubai International Financial Centre. It is aimed at strengthening ASR’s ties in the region, where it has been engaged in commercial activities since February 2022.

The firm’s Middle East expansion is led by its head of political violence and terrorism Zouheb Azam, who is also now serving as senior executive officer for ASR Middle East.

Azam said: “The opening of our new office in DIFC represents an exciting next phase of growth. It positions us at the global crossroads for financial and insurance services and will allow ASR to deepen relationships with brokers, reinsurers and businesses in the region. Our Dubai office will complement our existing operations and the progress we have made across Africa in developing bespoke and comprehensive risk-mitigating solutions for developing markets.”

ASR started underwriting in February 2021 and has since de-risked projects and assets worth $23bn. It operates in 14 countries across the Middle East and 49 across Africa.

The addition of the Dubai office will expand ASR’s existing network of locations in London, Mauritius, Bermuda and Morocco, it hopes also helping to deliver improved customer service and collaboration with global business partners.

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