ASR builds business in Mauritius
Africa Specialty Risks (ASR) has appointed Krishna Bheenick as its managing director in Mauritius. The pan-Africa-focused reinsurance group is also launching a recruitment drive to attract qualified professionals to join the business on the island.
Mr Bheenick has previously held senior positions at SWAN General, Mauritius Commercial Bank, XL Catlin Insurance (UK), Munich Mauritius Reinsurance Company and Munich Re of Africa, among others.
He will lead ASR’s operations in Mauritius, where the company is now seeking to recruit across all levels, specifically within the underwriting, compliance, finance and business administration departments.
Mr Bheenick said: “Mauritius is a key financial hub for the continent and offers significant opportunities to grow the business. ASR will provide additional Africa-domiciled capacity in the market, especially in light of the pandemic, which has led a number of global reinsurers to focus more on their home markets.”
ASR announced the launch of a fully capitalised and licensed reinsurer based in Mauritius on 20 May.
In addition to the operations in Mauritius, ASR has announced plans to establish hubs in six other African countries, namely Morocco, Kenya, South Africa, Ivory Coast, Egypt and Nigeria. ASR will be investing in local training of the market in specialty insurance lines, as well as recruitment and infrastructure surrounding the hubs.
