Africa Specialty Risks (ASR), a re/insurance group that focuses on developing markets, announced the launch of Lloyd’s Syndicate 2454 in South Africa.
Based in Sandton, ASR’s syndicate underwriters will underwrite insurance and reinsurance risks in South Africa and neighboring countries, providing AA-rated capacity to the local market across bespoke specialty lines.
ASR has made significant underwriting hires in the country, with additional executives and underwriters joining the company throughout 2026.
Xolisa Bangeni joins ASR as captives manager, with a background in finance and risk management. Bangeni will be responsible for the development and structuring of captive programs on behalf of large corporates. Prior positions have included risk finance consulting at Marsh, and portfolio and investment oversight at Hollard.
Xolile Kahla also recently joined ASR as a construction underwriter. Kahla has significant engineering and construction experience across the Southern Africa, having spent time at Munich Re and Zurich Insurance.
These two recent appointments join Corinne Beadsmoore, head of Business Development, in ASR Southern Africa, which will provide Lloyd’s capacity directly to local intermediaries and work with South African insurers.
“South Africa has always been and remains a key market for us, and this launch allows us to write risks directly in the market, ensuring we’re close to our customers while offering AA rated global capacity,” commented Mikir Shah, chief executive officer, ASR.
“Given South Africa’s recent sovereign S&P upgrade, along with a successful hosting of the G20, this is an excellent time for the continent, and I look forward to ASR supporting economic development in South Africa,” Shah said.
“This initiative underlines the strong and growing partnership between the UK and South Africa in financial services,” said Antony Phillipson, British high commissioner to South Africa. “By bringing Lloyd’s capacity closer to local markets, ASR is helping businesses manage risk and unlock opportunities, reinforcing South Africa’s position as a hub for innovation and resilience”
“This is a significant and unique distribution hub for ASR. We’ve been working with brokers and cedents in South Africa since the launch of ASR, providing bespoke solutions to the market,” according to Amit Khilosia, chief distribution officer, ASR.
“Our Lloyd’s syndicate 2454 will be the first of its kind to establish underwriting capability on the ground outside the UK allowing us to increase the depth of our offering, including providing partners with (co)insurance solutions direct to the Lloyd’s Open Market Correspondents [OMC] network and insurers in the country,” Khilosia added. “I look forward to expanding our offering in South Africa and neighboring countries.”
Source: Africa Specialty Risks
Topics Excess Surplus New Markets Lloyd's
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