A locally based global insurance brokerage acquired a managing general agent in the United Kingdom.
Terms of the deal were not disclosed.
Founded in 2017 by Talbir Bains, Volante is multi-class, multi-territory international managing general agent (MGA), which means it is a brokerage with underwriting authority and the power to administer programs and negotiate contracts for an insurer.
The firm provides niche, specialist reinsurance products underwritten by teams across an expansive distribution network. Its 2021 premiums were approximately $350 million and are forecasted to reach nearly $1 billion by 2025.
Acrisure is acquiring all of Volante’s brands, including Aesir Space, a London-based MGA; Horizon Europe AG, an MGA focused on the European property and casualty sector; and all territory-based MGAs such as Volante Germany and Volante Canada.
“We value Volante for being highly skilled underwriters in an entrepreneurial culture, given it’s a founder-led company under Talbir Bains,” said Greg Williams, co-founder, president and CEO of Acrisure. “Talbir has grown a highly profitable and financially attractive platform in a short period of time. Reaching $350 million of premiums in just three years is no small feat, and we expect this number to increase substantially over the next few years.”
Prior to the transaction, Volante’s majority investor was Nephila Holdings, a subsidiary of Markel Corporation.
“Nephila has been an outstanding investor, and we’ve cherished working together the past four years,” Bains said. “When the exploratory process began in 2021, our objective was to ensure that future ownership would match the alignment that we’ve defined and delivered to capital providers. From my first conversation with Greg Williams and Grahame Millwater, it was clear Acrisure was the perfect partner for this next phase, where Volante’s underwriting integrity and risk intelligence will be sacrosanct and empowered. Joining Acrisure will spur Volante’s growth, predicated on delivering the highest underwriting margin to our capital providers.”