MGA Volt Underwriting launches today with an initial capacity of US$25 million for US and international onshore power and renewable energy risks. The binder is led by Dale Underwriting Partners’ Lloyd’s Syndicate 1729.
Volt, backed by BP Marsh, will be one of the first MGAs to offer coverage for both conventional power and renewable energy clients. The MGA aims to offer additional products in the future, with capacity expected to grow substantially next year.
Volt is co-founded by CEO Chris Allison, chief underwriting officer Andrew Tokley, and chief operating officer Kevin Cleary.
Commenting on the launch, Allison says: “Volt was launched to offer multi-class solutions to energy sector clients, and we are delighted to launch power and renewable energy as the first of those products.
“We are thrilled to work with Dale as the lead capacity partner. Together we bring a strong proposition to the market.”
Ian Bridge, active underwriter at Dale Syndicate, adds: “Volt’s power and renewable energy product nicely complements our existing insurance portfolio whilst giving us access to a team with significant experience in this sector.”
