These agreements involve ASR’s subsidiaries, Africa Specialty Risks Mauritius and ASR Middle East Limited.
Under the agreements, Eureka Re will provide underwriting capacity with a line size of up to $10 million across a wide range of classes, including Political Violence and Terrorism, Political Risk and Trade Credit, Energy, Construction, Property, Parametric, Liability, Aviation, Marine, and Treaty. The agreements, which came into effect on December 1, 2024, enhance ASR’s ability to offer comprehensive solutions to clients across the Middle East and Africa.
Eureka Re, the reinsurer for the Rainmaker Group, extends capacity to the group’s MGA, XS Global, and other platforms globally. Established in 2009, the Rainmaker Group leverages Eureka Re to deploy capacity and capital across various markets.
Mikir Shah, CEO of Africa Specialty Risks, welcomed the partnership, stating: “Eureka Re is a best-in-class reinsurer, and their A-rated paper complements our market-leading underwriting talent. This agreement allows us to offer our clients increased capacity, and we look forward to growing our mutually beneficial partnership with the Eureka team.”
Gabriel Holschneider, CEO of Rainmaker Group, echoed this sentiment, saying: “We are delighted to enter into this binder agreement with ASR. Their extensive network of clients and brokers across the Middle East and Africa, combined with their exceptional underwriting capabilities, enables us to expand our underwriting portfolio. We anticipate exploring numerous synergies across our broader organization in collaboration with ASR.”
The partnership highlights ASR’s continued commitment to leveraging strong partnerships to provide innovative and comprehensive insurance solutions across key markets.
