Avatar MGA Ltd has received Lloyd’s coverholder and Financial Conduct Authority approval and will begin binding business from today, 1st August. It will trade as an appointed representative of Pro Global.

Adrian Williams, chief operating officer at Avatar, said: “We established Avatar to meet demand in US mid-market property risks, creating an efficient underwriting business both in terms of economics and speed.

“We are grateful for the support we have received from Santam, the Aon Reinsurance team, our carriers at Lloyd’s and Verisk, enabling us to launch our underwriting proposition to the market.”

Simon Clapham is chief executive officer designate and will join the business once current contract obligations have expired. Clare Bailey is Avatar’s head of property.

Bailey added: “US property as a class offers the largest and richest data set of any risk category globally and provides a fantastic opportunity to use this data for augmented underwriting on multiple risks. Our next generation approach combines the efficiencies of technology, large data sets and human expertise, to assess and price risks more effectively.”