AXA Africa Specialty Risks
AXA Group, a worldwide leader in insurance and asset management, launched an event in Mauritius for its new venture named AXA Africa Specialty Risks which is targeting the rapidly expanding market for African corporate and specialty insurance. This specialist market provides for instance insurance cover for political risks, for risks in energy projects and for risks in other large infrastructure projects such as transport, telecommunications, mining, major civil engineering works and building construction. AXA is partnering with Chaucer, an insurance group which is part of the internationally renowned Lloyd’s of London underwriting market where members join together as syndicates to insure risks. AXA has created a subsidiary in Mauritius, a Coverholder, which will both process and issue all policies. The business will be generated by marketing hubs, in east, north, south and west Africa. The AXA/Chaucer partnership therefore brings to Mauritius strong expertise in underwriting, extensive partnership management experience and established relationships with corporate clients, banks and business producers.