Volante Singapore: Asta-Davies’ key move to tap ‘high-growth’ Asian market
Lloyd’s third-party managing agent Asta has expanded its presence in the “emerging and high-growth” Asian market with the launch of Volante Singapore. With a focus on various lines of business including transaction liability, the company aims to seize the “extensive opportunities” available throughout the region.
Volante Global, a multi-class, multi-territory international MGA and Lloyd’s syndicate, has launched Volante Singapore. The launch follows a similar move by Mosaic Insurance in March, when it began underwriting operations through the Asta Singapore platform.
Volante Singapore has received regulatory approval as of 1 January 2023 and is actively trading. It offers re/insurance solutions across Asia Pacific, Greater China, Southeast Asia, South Korea, and Japan through Volante’s own A-rated Lloyd’s Syndicate 1699.
The focus for its reinsurance offering will initially be property, engineering, motor, accident and casualty, marine, multiline bouquet across treaty, facultative, binder and facility business. In addition, Volante Singapore will offer transaction liability solutions through Volante Transaction Services that shall include warranty and indemnity and tax liability insurance.
With the Asian market presenting extensive opportunities, Asta in March launched a service company to enable clients easily to establish a Lloyd’s operation directly in Asia, using one of Asta’s range of solutions. Asta offers syndicate, syndicate-in-a-box (SIAB), or captive syndicate solutions. Asta also offers a services solution for existing Lloyd’s Asia platform participants. The establishment of Asta’s Singapore platform forms part of a broader strategy to develop Davies presence in Asia and offer a range of services and solutions including bringing its leading captive management and MGA launch and host capabilities to clients in the region.
Simon Norton, chief underwriting officer of Insurance Services at Davies and Asta group director, said: “The launch of Volante Singapore is an early milestone in our own expansion into Asia. The region represents a key development area for Asta and Davies and is central to the continued global expansion of our combined insurance services business. Our partnership with Volante Global reinforces our track record in supporting insurance companies to enter emerging, high-growth markets. Moreover, the Volante Singapore platform endorses our own plans to roll out a full range of offerings in the region, including syndicates, SIABs, MGAs and captive management entities.”
Audrey Lee, CEO of Asta Solutions Asia, added: “This launch is further endorsement of our offering in the region, and we are looking forward to supporting Volante directly from Singapore for their operations on the Lloyd’s platform.”
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