Asta hails launch of Volante Singapore
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 Volante Singapore.
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.”
Audrey Lee, chief executive of Asta Solutions Asia, added: “This launch is further endorsement of our offering in the region, and we are looking forward to supporting Volante directly from Singapore for their operations on the Lloyd’s platform.”
Claiming that the Asian market presents ‘extensive opportunities’, Asta in March launched a service company to enable clients easily to establish a Lloyd’s operation directly in Asia, using one of Asta’s range of solutions. 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 company added that the establishment of Asta’s Singapore platform 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.
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. In addition, Volante Singapore will offer transaction liability solutions through Volante Transaction Services that shall include warranty and indemnity and tax liability insurance.