New MGA Volante Global to launch in Q1 ‘18
Volante Global, a new multi-class and multi-territory international managing general agent (MGA) platform, is set to launch and commence trading during the first quarter 2018.
Volante is a UK-based global underwriting MGA and will underwrite specialist portfolios of insurance and reinsurance business, including property/casualty, professional and financial lines, motor, space & aviation and marine & energy.
The group is establishing an international network of underwriting to deliver local market service.
Led by Talbir Bains, founder and CEO of Volante, the group has secured equity investment from Nephila Capital as its principal equity investor.
Bains was formerly group CEO and chief underwriting officer of DUAL International, and prior to this held a number of managerial positions across underwriting, reinsurance, pricing and business performance at QBE Group.
Jim Donnet is chief financial officer and member of the Volante executive committee. He was previously managing director in the financial institutions group investment banking teams of KBW, FPK and ABN AMRO.
Bains said: “Volante will deploy upper quartile underwriting capabilities dovetailed with local and specialist distribution strength, supported by an optimised operational platform. All of this will be highly enabled by a leading-edge, in-house technology centre which resides at the origin of our business, driving an innovative and disruptive research & development approach to deliver fully bespoke, cost-effective product and distribution solutions.
“Our mission is to create sustainable, balanced portfolios of business, each developed by empowered underwriting teams composed of leading practitioners in their particular market specialties – they share the same entrepreneurial spirit that pervades our Volante culture. Our objective is to achieve superior underwriting and financial margin with zero compromise on delivering target returns to our sponsoring carriers and investor, driven by a philosophy of group culture predicated on transparency, empowerment and accountability.”
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Edison Motor will be the first underwriting team to launch from the Volante platform. The MGA will begin writing business in February 2018 secured on a 5-year binder agreement and offer a range of niche motor insurance products.
Volante’s portfolio of commercial business will span the public sector, including police and fire services, and district/borough councils; hazardous goods; haulage and ancillary. The company will provide both conventional and non-conventional insurance products.
The MGA will also provide a full-service motor claims function, including pre- and post-litigation support, and access to a comprehensive repairer network; as well as risk management services.
