Africa Specialty eyes treaty expansion amid ‘diminished’ insurance capacity
Pan-African focused reinsurance group Africa Specialty Risks (ASR) is looking to expand in the treaty market at a time of “diminished insurance capacity” as it looks to close the coverage gap on the continent. The reinsurer has hired a senior treaty underwriter with a background at WR Berkley and Everest Re to support its strategic efforts.
Sean Paradine (Pictured) joins ASR from WR Berkley where he was senior vice president focused on treaty underwriting in Sub-Saharan Africa, responsible for a period of strong growth. Prior to that, Paradine spent 21 years at Everest Reinsurance where he was instrumental in developing the African treaty and facultative portfolios.
Mikir Shah, CEO of ASR said: “Recognised as an industry expert in his field, we are delighted that Sean has joined ASR to lead our Treaty Underwriting offering. He has significant international experience, particularly in Sub-Saharan Africa which supports our core strategy of closing the coverage gap on the Continent.”
Brian McGregor, director of underwriting, added: “I am delighted to welcome Sean to the team. Sean adds to our Treaty underwriting capabilities with his wealth of experience and robust technical ability. Sean puts us in a strong position to expand our Proportional and Non-Proportional treaty products across Africa and the Middle East at a time of diminished insurance capacity.”
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