Africa Specialty Risks partners with Moroccan reinsurer SCR
Pan-African re/insurer Africa Specialty Risks (ASR) has entered into a partnership agreement with Moroccan reinsurer Société Centrale de Réassurance (SCR).
The two companies will be combining capacities to write multi-business line coverage across Africa and the Middle East, with the joint capacity being led by the ASR team outside of Morocco for a proportion of SCR’s capacity.
ASR said its partnership with SCR reflects a mutual mission to develop and accelerate an international presence across the African and Middle Eastern (re)insurance markets.
Mikir Shah, CEO of Africa Specialty Risks, said: “Partnering with SCR is an exciting time for ASR as the Group continues to protect the African continent from a range of risks, while simultaneously extending our presence and expertise in the Middle East. The partnership increases the protection we can provide to international and other African organisations. We look forward to working with SCR, the continent’s first Arab reinsurer and second largest African reinsurer and continuing our work in filling the insurance gap in Africa and the Middle East.”
Youssef Fassi Fihri, CEO of SCR, added: “The partnership with ASR is a testament to our 2021-2023 strategic plan “We Transform Tomorrow Together” and reflects our commitment to strengthening the positioning of SCR internationally while partnering with likeminded business partners.”
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