Qatar Insurance and ASR strengthen ties to expand Africa, developing markets footprint

Qatar Insurance (QIC) has bolstered its involvement in Africa and developing markets by increasing its investment in Africa Specialty Risks (ASR), a leading specialist (re)insurance group. This partnership, which has flourished over the past few years, allows QIC to diversify its geographic exposure and tap into ASR's unique underwriting expertise in African and developing markets.

ASR, founded in 2020 and led by Mikir Shah, has quickly become a prominent player in the specialty (re)insurance sector, providing local knowledge and access to top-tier global capacity. QIC's CEO, Salem al-Mannai, expressed confidence in the long-term growth prospects of African and developing insurance markets, stating that the investment reinforces the group's international reach and diversified growth strategy.

ASR's CEO, Mikir Shah, echoed these sentiments, highlighting the strong partnership between QIC and ASR, and their shared mission to support sustainable economic development in growth economies. The investment marks QIC's entry into markets where few insurers from the region have established a presence, with QIC gaining access to ASR's regional network and specialized underwriting capabilities, while also providing ASR with additional capacity and a trusted partner in its growth journey.