Volt Underwriting expands into ports and terminals with TMK-led consortium

Volt Underwriting has entered the ports and terminals insurance class under a new binder led by Tokio Marine Kiln (TMK).

The London-based MGA, established to support clients in the energy sector, will deploy an initial line of $15m to underwrite a global portfolio of property and liability exposures.

The book will be led by Chris Haines (pictured), one of the market’s most experienced ports and terminals underwriters, who joined Volt earlier this year to develop the new line.

Richard Hooks, departmental head of marine and energy at TMK, said the partnership reflected TMK’s confidence in Volt’s approach.

“We are excited to back Volt’s entry into ports and terminals,” he said.

“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,” he added.

Haines said the launch followed extensive collaboration with carriers and brokers to structure the new product.

“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 and terminals offering to the market,” he said.

“I am looking forward to getting down to business and excited to be part of the Volt growth story,” said Haines.

Chris Allison, Volt’s chief executive, said the new class represented a natural next step for the MGA.

“Expanding our product offering was always a priority for Volt, and I’m excited to announce ports and terminals as the first of many,” he said.

“The line complements our existing offering and means Volt offers scale and balance for carriers.

“At the same time, we support energy supply, distribution and logistics by underwriting critical infrastructure.

“We couldn’t ask for better support from Richard, TMK CUO Vivek Syal and the whole TMK team,” Allison added.