Africa Specialty Risks (ASR) has started a new Lloyd’s syndicate, called Syndicate 2454, in South Africa. This move marks ASR’s effort to provide insurance and reinsurance locally in South Africa and nearby countries. The new office is based in Sandton, giving underwriters the chance to offer AA-rated insurance solutions tailored to the region’s specialty markets.
ASR has also expanded its team with some key hires for 2026. Xolisa Bangeni has joined as captives manager, bringing expertise in finance and risk management. She will focus on creating and managing captive insurance programs mainly for large companies. Before ASR, Bangeni worked at Marsh and Hollard. Another addition is Xolile Kahla, who comes on board as a construction underwriter. Kahla brings solid experience in engineering and construction insurance from previous roles at Munich Re and Zurich Insurance.
These two new team members join Corinne Beadsmoore, who heads Business Development in the Southern Africa region. Together, they aim to connect with local brokers and insurers, allowing ASR to deliver Lloyd’s insurance products more directly to the South African market.
Mikir Shah, ASR’s CEO, said South Africa remains an important market for the company. He highlighted the recent improvement of South Africa’s credit rating and the success of the G20 summit hosted in the country. Shah believes these factors make it a good time to support the local economy with robust insurance options.
Antony Phillipson, the British high commissioner to South Africa, also welcomed the launch. He pointed out how bringing Lloyd’s capacity closer to local businesses will help companies better manage risks and seize new chances for growth. This effort reinforces South Africa’s role as a growing hub for financial services and innovation.
Amit Khilosia, ASR’s chief distribution officer, noted that this new syndicate is a unique step for the company. Syndicate 2454 will be the first Lloyd’s syndicate with underwriting capability set up directly on the ground outside the UK. This setup will deepen the access to insurance solutions for brokers and insurers in South Africa and neighboring countries. Khilosia is optimistic about further expanding ASR’s presence and offerings in the region.
With Lloyd’s syndicate 2454 now active locally, ASR aims to bring stronger and closer support to businesses in South Africa, helping them manage risks with confidence while benefiting from global insurance standards.