ASR Agrees Binding Deal With Sava Re

The latest news from ASR for you;

Africa Specialty Risks (“ASR”), the developing markets-focused (re)insurance group, announces that it has agreed Binding Authority Agreements with Sava Re, the Slovenian reinsurance group.

Sava Re will provide capacity for the Binding Authority, with each agreement providing up to $10 million in line size across all core ASR classes.
Sava Re is the operating holding company of the Sava Insurance Group, one of the largest reinsurance companies domiciled in southeastern Europe, servicing more than 450 partners in over one hundred reinsurance markets worldwide. It maintains “A”-level long-term financial strength ratings, with a positive outlook- by S&P Global Ratings and stable outlook by AM Best.

The binding agreement will give Sava Re deeper access to risks originating from Africa, the Middle East and developing markets, allowing ASR to further its mission of enabling sustainable economic development by fulfilling unmet insurance needs.

The Binding Agreements are live for risks as of 20 March 2025 onwards.

Mikir Shah, Chief Executive Officer, ASR, commented:

“Sava Re is one of the strongest reinsurers in CEE with excellent risk and capital management, demonstrated by their financial strength ratings. Entering into this partnership gives us further access to leading capacity which we can deploy to developing markets. “Throughout Africa, the Middle East and growth economies, there’s a huge demand for specialty insurance solutions, and ASR will continue to be at the forefront of meeting this demand.”