QIC invests in ASR to expand Africa, emerging markets presence

Qatar Insurance Company (QIC) has bolstered its global presence by investing in Africa Specialty Risks (ASR), a specialist (re)insurance firm focused on Africa and developing markets. The investment comes as QIC and ASR strengthen their existing partnership, with QIC serving as a reinsurance capacity provider for ASR’s Syndicate 2454 and binder capacity through Antares.

This collaboration has allowed QIC to diversify its geographic exposure and access ASR’s unique market expertise, which has been crucial in accessing A-rated global capacity. QIC's CEO, Salem Al Mannai, highlighted the importance of this investment, stating that it positions QIC to tap into markets where few other insurers have a foothold, thereby contributing to the Group's ongoing international expansion.

ASR CEO, Mikir Shah, echoed the sentiment, emphasizing the strong partnership built over the past few years and the company's commitment to supporting sustainable economic development in growth economies through specialized insurance solutions. This investment aligns with QIC's broader strategy of partnering with specialist underwriting businesses and teams with proven management in markets with strong long-term growth potential, extending QIC's reach beyond its established markets in Qatar, the GCC, and international reinsurance.