Nephila-backed MGA Volante secures $900m capacity treaty deal
Volante Global, a new Nephila-backed managing general agent (MGA) platform, has secured a $900 million gross premium, multi-class, multi-territory A+ capacity treaty agreement.
The agreement provides capacity for its nine new underwriting teams, which will work across seven distinct classes of business and operate in North America, Europe and Africa. The business lines include - property, general liability, space, international motor, facultative P&C, leisure & sport, financial institutions, North America auto and professional indemnity. The teams are scheduled to launch on the Volante platform in Q3 and Q4 2018.
Volante was launched in October 2017 following an investment agreement with its principal investor Nephila. In March, the company launched a Nordic-focused MGA Bridge Underwriting.
The latest capacity has been provided by a strategic panel of three A+ rated insurers. The single agreement is secured on a multi-year LTA basis with zero arbitrage fixed commissions. Volante said the contract is designed to ensure a long-term partnership with complete strategic alignment to optimise the combined operating result of the carriers.
Commenting on the transaction, Talbir Bains, founder and CEO of Volante, said: “This revolutionary capacity structure and agreement forms the foundation of Volante’s alignment to the carriers we serve. This single capacity treaty supported by a panel of three global carriers, supporting nine underwriting teams across an expansive range of classes and territories, is key to the objectives that we are committed to delivering at Volante – group culture, underwriting culture and an accretive insurance offering underpinned and enabled by leading-edge technology.
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