Another day, another new MGA (managing general agent) platform – and MGAs in the pipeline.
Talbir Bains (pictured), former group chief executive and chief underwriting officer at DUAL
International Limited, has set up specialist global underwriting and distribution MGA platform Volante Global Limited. The new multi-class and multi-territory international MGA platform is backed by principal equity investor Nephila Capital and will commence trading in the first quarter of next year.
Edison Motor, the first underwriting team to launch from the new platform, will begin writing business in February and will offer a range of niche motor insurance products. Volante will also launch property and casualty reinsurance MGA Horizon Managing Agency AG in early 2018.
“We are delighted to be launching a new and unique underwriting business, following investment from Nephila Capital and capacity support from our panel of A+ and AA+ rated carriers, intermediated by Aon
Benfield,” said Bains. “Volante will deploy upper quartile underwriting capabilities dovetailed with local and specialist distribution strength, supported by an optimised operational platform.”
Meanwhile MGA incubator Vibe MGA Management (VibeMM) will provide UK-headquartered Volante turnkey compliance and appointed representative services.
‘‘Volante offers superior underwriting, claims and risk management services delivered by empowered teams and capitalising on leading-edge technology,” said Bains. “The comprehensive governance framework and range of specialist services provided by VibeMM made them the right partner for us in the UK at this early stage in the growth of our business.’’
The newest player in the MGA market will underwrite specialist portfolios of insurance and reinsurance business including property and casualty; professional and financial lines; motor, space, and aviation; as well as marine and energy. It will establish an international network of underwriting teams located in key territories.
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