Volt Underwriting has officially launched as an approved coverholder, backed by Dale Underwriting Partners’ Lloyd’s Syndicate 1729, with support from MGA Accelerator DA Strategy.
The launch comes in response to the growing demand for insurance solutions within the energy transition sector.
As global efforts to shift to renewable energy intensify, companies in this space require tailored coverage to address the unique risks involved in both conventional and renewable energy projects.
Volt Underwriting will focus on providing comprehensive insurance coverage to companies in the energy sector. Initially, the firm is offering $25m in capacity for both US and international onshore power and renewable energy risks, with plans for significant growth in the coming months.
The new coverholder is specifically designed to address the complex needs of clients operating within both conventional power and renewable energy sectors. Volt Underwriting’s coverage will expand significantly at the next renewal period on 1 January, 2025, allowing the company to increase its impact in this rapidly evolving market.
Volt Underwriting was co-founded by industry veterans Chris Allison (Chief Executive Officer), Andrew Tokley (Chief Underwriting Officer), and Kevin Cleary (Chief Operating Officer).
With over 75 years of combined experience in energy underwriting and insurance management, the team brings unmatched expertise to their clients, ensuring tailored solutions for complex energy risks. BP Marsh, a prominent investor, has backed the venture, further strengthening Volt’s position in the market.
DA Strategy MGA Director Kaj Pankhania said, “We are thrilled to introduce Volt UW, an energy transition MGA with best-in-class underwriters to the market. This lightning quick launch has taken great collaboration and firm dedication by all parties to ensure the team were up and running swiftly, compliantly, and with scale built into their foundations. The expert Volt UW team is already creating waves in the market and we have no doubt of the impact they will make in bringing innovation to the energy sector, supporting in particular the global transition to renewable energy.”
Volt Underwriting CEO Chris Allison added, “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.”
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