Volt Underwriting, a specialty Managing General Agent (MGA), has entered the Ports & Terminals insurance class under a binder led by Tokio Marine Kiln (TMK).
The MGA will deploy an initial line of $15 million in capacity, focused on underwriting a global portfolio covering both Property and Liability exposures for ports and terminal operators.
Richard Hooks, Departmental Head of Marine & Energy at Tokio Marine Kiln (TMK), commented: “We are excited to back Volt’s entry into Ports & Terminals. We appreciate Volt’s experience and their lean London market approach, and we look forward to leading the binder and managing the consortium behind it.”
The new book will be led by Chris Haines, as previously announced, who is recognised as one of London’s leading underwriters of Ports & Terminals risks.
Haines joined Volt specifically to drive this expansion, bringing his extensive expertise to the MGA’s growth story.
“Since I joined Volt, it’s been a great opportunity to build our product and engage with carriers and brokers on the optimum way to bring Volt’s new Ports & Terminal offering to the market. I am looking forward to getting down to business, and excited to part of the Volt growth story,” said Haines.
Volt CEO Chris Allison stated: “Expanding our product offering was always a priority for Volt, and I’m excited to announce Ports & Terminals as the first of many. The line complements our existing offering, and means Volt UW offers scale and balance for carriers.
“Meanwhile, we support countries’ consistent energy supply, distribution, and logistics by underwriting critical infrastructure. I am enormously grateful to Richard, and to TMK’s CUO Vivek Syal, and the whole team there. We couldn’t ask for better support.”
The post Volt Underwriting enters ports and terminals market with TMK-led consortium appeared first on ReinsuranceNe.ws.