Volante Capital Holdings, an international MGA platform, has gained “in-principle” Lloyd’s approval for the launch of Syndicate 1699 with initial stamp capacity of £130m.
Managed by Asta Managing Agency, Volante claimed that the syndicate will be ready for the 2022 year of account.
While Volante’s MGA teams will continue to underwrite businesses separately through third-party capacity binders, the new syndicate will provide business to Lloyd’s via the group’s existing network of nine service companies, which will underwrite in eight classes across five continents.
Talbir Bains, founder and CEO at Volante, said: “We seek to create a new kind of international Lloyd’s vehicle within the Volante Group, one which champions Lloyd’s standards and upper quartile underwriting performance.
“Our ambition is to establish a fully aligned partnership between Lloyd’s and our existing local underwriting offices, which will be re-established as service companies to Volante Syndicate 1699.”
Volante forecasted its future growth to be driven by both existing portfolio expansions and the offering of products and services to niche and specialty market sectors.
Bains added: “In less than four years, through the sponsorship of our strategic carrier partners, we have delivered a transformational MGA to the market.
“We now seek to continue the development with the creation of an international syndicate at Lloyd’s, and we are very privileged to partner with Asta in this evolution of the Volante Group.”