Modern Mining September 2024

Insurance for a mining company must encompass the whole life cycle of a mine.

and creating insurance products which are specifically designed to meet the needs of the risks faced by Africa. ASR places a strong emphasis on local engagement and relationship-building, with its unique co-reinsurance model calling for collaboration between local insurers and brokers, alongside the Capacity Providers they bring to the Continent. ASR’s underwriters and business development teams invest substantial time and effort in being engaged and present in the local markets they serve, thereby helping them to gain valuable insights into the unique needs and challenges faced by local markets. Local cedants traditionally lack the experience and the balance sheet to support larger risks. ASR has both, and thus support the local insurance companies to retain as much premium as possible, enabling local insurers to better support the mining industry, whilst keeping the business within the continent.

Launch of ASR Syndicate 2454, the first African focused syndicate writing business at Lloyds.

SEPTEMBER 2024 | www.modernminingmagazine.co.za  MODERN MINING  29