Asta, a third-party managing agent at Lloyd’s, has announced that Volante Global, a multi-class, multi-territory international MGA and Lloyd’s syndicate has launched in Singapore.
Volante Singapore will offer 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.
Additionally, Volante Singapore will offer transaction liability solutions through Volante Transaction Services that shall include warranty and indemnity and tax liability insurance.
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.”
Back in March Asta launched a service company to enable clients easily to establish a Lloyd’s operation directly in Asia – a market presenting extensive opportunities – using one of Asta’s range of solutions, the company noted.
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, the company stated, 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.
The Volante Singapore launch follows a similar move by Mosaic Insurance in March, when it began underwriting operations through the Asta Singapore platform.