We value transparency and open communication with our clients, partners, and the public. Following recent misinformation, we have compiled these Frequently Asked Questions (FAQs) to clarify who we are, what we do, and how Underwriting Africa Specialty Limited operates. Our goal is to provide clear, accurate information and reassure all stakeholders of our continued compliance and commitment to excellence across Africa.
1. Is Underwriting Africa Specialty Limited an insurance broker?
No. UASL is not an insurance broker nor is it an intermediary. We are a technical consultancy supporting Multinational Reinsurers and African corporates with Credit Risk and Political Risk Analysis and Reports.
2. What is the difference between Underwriting Africa Specialty Limited and Underwriting Africa Insurance Brokers Limited?
They are two separate and independent legal entities. The insurance brokerage (Underwriting Africa Insurance Brokers Ltd.) ceased operations in 2022. UASL continues to operate as a technical consultancy firm.
3. Why was Underwriting Africa mentioned in the IRA notice?
The IRA notice mistakenly referenced Underwriting Africa Insurance Brokers Limited. It does not apply to UASL. Our company remains compliant and continues to serve clients across Africa.
4. What services does UASL provide?
We focus on specialist solutions, including:
- In conjunction with international stakeholders, support business plan and product development for insurance companies in Africa, who are interested in rolling out trade credit insurance in their markets of operation.
- Specialist Training and Capacity Building in Trade Credit Insurance and Sureties
- Transaction Analysis, Country Risk Analysis, Financial Modelling and Reporting
- Structuring Financing facilities and risk mitigation for large transactions across Africa and support for Corporates involved in different verticals
The above services are used to support Reinsurers offering
- Credit Risk Reinsurance
- Political Risk Reinsurance for cross-border projects
- Bonds (performance bonds, advance payment guarantees, and letters of credit)
5. Who can UASL work with?
We partner with Reinsurers and Insurance companies who are targeting corporates and SMEs in sectors such as manufacturing, infrastructure, IT, energy, agriculture, banking, and FMCG—mainly for businesses with annual turnovers above USD 1 million.
6. Is UASL compliant with regulatory requirements?
Yes. UASL operates legally and transparently within its mandate as a technical consultancy, and there is no requirement under the Insurance Act for UASL to register as an intermediary.