Africa Specialty Risks officially becomes a Lloyd’s coverholder

By Favour Nnabugwu




Pan-African-focused reinsurance group Africa Specialty Risks (ASR) has been approved as a Lloyd’s coverholder.

ASR provides risk transfer solutions to local and global customers across the African continent, giving them the confidence to grow their businesses sustainably. It is backed by Helios Investment Partners’ Fund IV, benefitting from its reach across Africa and its knowledge and experience in key markets.

As a coverholder of the world’s leading specialist insurance and reinsurance market, ASR can work with Lloyd’s syndicates and manage delegated authorities for specialist lines of business commencing with political violence and terrorism. It can also leverage Lloyd’s brand and licenses to bring much-needed Lloyd’s capacity to Africa.

ASR received its coverholder status through sponsorship by Atrium, a managing agent at Lloyd’s.

Stuart Harmer, terrorism and political violence underwriter at Atrium, commented: “Atrium is extremely proud to be a leading supporter of Africa Specialty Risk writing political violence business and very much look forward to a successful partnership as ASR continues to demonstrate market leading knowledge and expertise.”

Amit Khilosia, Lloyd’s head of Africa, added: “I’m extremely proud to welcome ASR to Lloyd’s as a coverholder. This demonstrates our shared commitment to Africa, and I very much look forward to working with ASR to deliver efficient access to Lloyd’s products and capacity.”

What it means to be a Lloyd’s coverholder
ASR strives to provide capacity to Africa from re/insurers with strong security and robust credit ratings.

Martin Boreham, director of underwriting and head of liability at ASR, said the coverholder status enables ASR to enhance and complement Lloyd’s existing footprint in and across the African continent.

“ASR is the only Africa-focused re/insurance capacity provider with a comprehensive corporate and specialty risk mitigation offering,” Boreham said.

Brian McGregor, director of underwriting and head of property at ASR, added that becoming an approved Lloyd’s coverholder is essential to bring much-needed insurance capacity to Africa.

“This is mutually beneficial, broadening Lloyd’s reach in Africa and allowing ASR to deepen its relationship with the world’s leading insurance market,” McGregor said.

Africa Speciality Risks
Africa Speciality Risks joins businessnetwork
ASR became a Lloyd’s coverholder after joining the Commonwealth Enterprise and Investment Council (CWEIC), the Commonwealth’s business network with over 100 business and government strategic partners from 31 countries and territories.

As a member of the CWEIC, ASR participated in a market visit to Ghana and Nigeria led by CWEIC chairman Lord Marland.

“Thanks to the meetings organized by CWEIC, we had the privilege of meeting some of the most senior public and private business leaders in both countries,” ASR said in a statement.

“At ASR, we are passionate about supporting businesses in managing risks associated with their operations and investments in Africa, including Ghana and Nigeria. The visit provided us with a fantastic opportunity to showcase our executive team and explain ASR’s risk assessment methodology, which we apply throughout the economic life cycle of each country.”

NAIPE hosted Guinea Insurance CEO, Pius Edobor in Lagos

National Association of Insurance & Pension Editors, NAIPE had a CEO forum with the Managing dire for of Guinea Insurance, Mr Pius Edbor in Lagos today



R-L: Chinenye Nwankwo, Company Secretary, Ademola Abidogun, Managing Director, Pius Edobor, Executive Director, Finance & Accounts, Nkechi Naeche-Esezobor, NAIPE Chairperson – Publisher & Editor at Businesstoday


Banks to operation before, after election- ACAMB boss

By Favour Nnabugwu



The Association of Corporate Affairs Managers of Banks (ACAMB) says all bank branches and digital channels will be open for banking services before, during, and after the elections.

The association said this in a statement signed by its president, Mr Rasheed Bolarinwa, on Wednesday in Lagos.

The body said that Deposit Money Banks (DMBs) had not received any directive from the Central Bank of Nigeria (CBN) to shut down banking services for five days, as stated in a fake press release.

“The attention of the Association of Corporate Affairs Managers of Banks has been drawn to the trending social media message purporting that the Central Bank of Nigeria (CBN) was shutting down banking services for five days from Thursday, 23rd to Monday 27th February 2023 because of the general elections holding in Nigeria over next two weekends.

ACAMB hereby wishes to debunk the fake news in its entirety and wishes to assure Nigerians and the banking public that there is no iota of truth in the viral message that is being circulated.

“Up until this moment, no Deposit Money Banks or other institutions providing financial services have received any directive or communication from the CBN to close the doors of their physical banking halls or shut their digital platforms and online banking channels against their customers because of elections.

“ACAMB further wishes to assure customers that their respective banks have put in place measures to ensure that depositors can as usual, access money in their accounts during this period.

Also, customers who wish to carry out transfers or use electronic banking services will have unhindered access to these services before, during, and after the elections,” it said.

It urged Nigerians not to panic, urging them to ignore the trending message maliciously concocted to cause disaffection among the citizenry and the DMBs.

It advised Nigerians to be peaceful and orderly during the elections, wishing the nation a successful conduct of free, fair, and credible elections.

ACAMB is the umbrella body of Corporate and Marketing Communications Professionals working in Nigeria’s banking sector. (NAN)