It will offer a combination of treaty and facultative reinsurance across multiple lines through Lloyd’s Syndicate 1699
Volante Global has announced the launch of Volante (DIFC) at Dubai International Financial Centre.
Volante (DIFC) Ltd has received a category four licence from the Dubai Financial Services Authority (DFSA), the independent regulator of financial services conducted in or from DIFC.
Led by Khalil Eid, Volante (DIFC) Ltd will offer reinsurance through Volante Global’s A+ rated Lloyd’s Syndicate 1699.
Volante (DIFC) Ltd has started underwriting and plans to build a diversified portfolio across multiple business classes, including treaty, property, energy, marine, liability, engineering and auto consumer lines.
The Volante (DIFC) Ltd team has extensive experience in the region and has worked in leadership roles, covering the territory for many years.
Commenting on the launch, Eid said: “The core focus of our company is to achieve a significant and profitable portfolio with a product proposition relevant to DIFC and the Middle East insurance market’s growth potential.
“We will do so through a combination of treaty and facultative offerings targeting corporate and consumer lines across multiple business classes.”
“In our first year of operation, we successfully launched a multi-product plan led by a highly experienced team based in DIFC. We are well positioned to achieve our vision and aspiration in the region,” he added.
Talbir Bains, Volante’s Global Founder and CEO, said: “Our proposition is to leverage our Dubai-based talent to deliver combined package policies, including property, liability, marine, auto consumer lines and treaty to a spectrum of local assureds in the Middle East and Republic of Türkiye.
”The strength of capital we bring to the local market with our Lloyd’s Syndicate 1699 platform will offer advantageous multi-line solutions to our broker partners. Volante is excited to commence trading in DIFC.”
Salmaan Jaffery, chief business development officer at DIFC, commented: “The Middle East, Africa and South Asia’s insurance market continues to become more sophisticated and DIFC is regarded as the regional powerhouse for the sector.
”We are delighted that Volante has become part of the Lloyd’s Syndicate at DIFC and will use the Centre to expand into new markets.”
Roshni Lillies, active underwriter of Volante’s Syndicate 1699, added: “Volante (DIFC) Ltd will underwrite Middle Eastern business for Volante Syndicate 1699 via a service company agreement. This platform enables our syndicate to access a growing marketplace locally with local underwriting talent.
”We are delighted to have secured such an experienced and highly reputable team. We look forward to working with assureds and brokers locally.”