A new international MGA gets green light
Another day, one other new MGA (managing normal agent) platform – and MGAs within the pipeline.
Talbir Bains (pictured), former group chief government and chief underwriting officer at DUAL International Limited, has arrange specialist international underwriting and distribution MGA platform Volante Global Limited. The new multi-class and multi-territory international MGA platform is backed by principal fairness investor Nephila Capital and can begin buying and selling within the first quarter of subsequent 12 months.
Edison Motor, the primary underwriting group to launch from the new platform, will start writing enterprise in February and can supply a variety of area of interest motor insurance coverage merchandise. Volante may 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,” mentioned 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 present UK-headquartered Volante turnkey compliance and appointed consultant providers.
‘‘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 latest participant within the MGA market will underwrite specialist portfolios of insurance coverage and reinsurance enterprise together with property and casualty; skilled and monetary traces; motor, area, and aviation; in addition to marine and power. It will set up an international community of underwriting groups positioned in key territories.
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