Africa Specialty Risk launches with Helios backing
Helios Investment Partners has announced the launch of reinsurance business Africa Specialty Risk Group.
It was launched in partnership with Mikir Shah, former CEO of AXA Africa Specialty Risks, and Bryan Howett, former CEO of Old Mutual’s pan-African reinsurance operations.
Helios, having previously founded Helios Towers, says it identified an unmet need in the reinsurance space to expand the continent’s long-term domestic capacity beyond its current capabilities. ASR will create tailored solutions for local and global customers, using Africa-specific pricing models, it added.
The investment in ASR is being made from Helios’ latest fund, Helios Investors IV, whose investors include the UK development finance institution CDC Group and the International Finance Corporation.
