MGA platform Volante Capital Holdings (Bermuda) Ltd has secured ‘in-principle’ approval from Lloyd’s to launch Syndicate 1699 for the 2022 year of account. The syndicate will be managed by Asta Managing Agency Ltd and have an initial stamp capacity of £130m.

Talbir Bains, founder and chief executive officer of Volante Global, said: “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.”

He 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. We are grateful to the team at Guy Carpenter, our advisors in the process.”

Julian Tighe, chief executive officer at Asta, said: “As Lloyd’s seeks new and innovative ways to grow the market, Volante brings not just a proven and practical technological approach, but also an organisational structure and ethos which will do just that. Asta is proud to stand alongside Volante in this exciting new venture.”

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