Africa Specialty Risks (ASR) has named Eric Malterre (pictured) to the newly created role of chief underwriting officer.
Based in London, Malterre will report to ASR chief executive officer Mikir Shah.
Malterre brings 25 years of international insurance experience to the position, having held senior roles across Europe, Asia Pacific, and Africa. His previous positions include leadership roles at Marsh, Coface, AXA, and Sedgwick, where he most recently served as chief client officer for its international division.
Between 2016 and 2019, he was chief underwriting officer at AXA Africa Specialty Risks, a firm founded and led by Shah prior to his tenure at ASR.
“Since our launch in 2020, we’ve doubled our GWP each year,” Shah said. “Having worked with Eric previously, I know he has excellent underwriting expertise and will provide the necessary guidance as we continue on our growth trajectory while retaining our strong underwriting discipline.”
Malterre holds an MBA from the University of Chicago, a business degree from HEC Business School, and is a graduate of the French Military Academy of Saint-Cyr.
In his new role, Malterre will oversee the development of underwriting strategies, guide profitability initiatives, and ensure that underwriting practices remain aligned with ASR’s risk appetite and corporate objectives.
He will work closely with Martin Boreman, director of underwriting and head of liability and active underwriter, and Brian McGregor, director of underwriting and head of property.
The appointment follows a series of strategic moves by ASR aimed at expanding its underwriting and operational infrastructure. In January, ASR launched the Baobab Consortium at Lloyd’s – its first Africa-focused Lloyd’s consortium – offering US$21 million in capacity across various sectors.
The consortium was formed to address the limited presence of African business at Lloyd’s, which currently accounts for only 2% of its overall portfolio.
ASR has also expanded its capacity partnerships. In March, it entered into a binding authority agreement with Sava Re, a Slovenian reinsurer, to provide up to US$10 million in line size across core business lines.
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