Dubai, UAE, 20 October 2022: Volante Global, a multi-class, multi-territory international Managing General Agent (MGA) and Lloyd’s Syndicate, has announced the launch of Volante (DIFC) Ltd at Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region.
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.
Khalil Eid, Managing Director of Volante (DIFC) Ltd 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.
“I am pleased to confirm the appointment of colleagues who will grow our DIFC-based business: Abdelfattah Chami – Director of Treaty; Manik Sethi – Director of Marine & Offshore Energy; Rainer Lehner – Director of Offshore Energy; Nazih Matar – Director of first-party ‘Property’ lines; Tariq Siddiqi – Director of Onshore Energy, Power & Engineering; Arnen Panopio – Director of third-party ‘Liability’ lines; and Kyra Logotheti – Director of Casualty,” he concluded.
Underlining the differentiation that Volante (DIFC) Ltd seeks to deliver to the local markets, 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, the platform through which Volante (DIFC) Ltd will trade, conveyed the focused strategy that the company will bring to the local market: “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.”
About Volante Global
Volante Global is a multi-class, multi-territory international MGA & Lloyd’s Syndicate, which delivers the best-in-class underwriting powered by data-driven business processes deployed through a strategic platform. Registered and headquartered in the UK, Volante Global is built upon a financially secure foundation, including (at a minimum) A-rated insurance capacity supporting every line of business.
About Volante (DIFC) Ltd
Volante (DIFC) Ltd is regulated by the Dubai Financial Services Authority (DFSA) FN006829 and incorporated in the Dubai International Financial Centre (DIFC) CL5092. It is located on the DIFC Lloyd’s platform in gate-village eight-level five. All products will be offered on a reinsurance basis.
About Dubai International Financial Centre
Dubai International Financial Centre (DIFC) is one of the world’s most advanced financial centres, and the leading financial hub for the Middle East, Africa and South Asia (MEASA), which comprises 72 countries with an approximate population of 3 billion and an estimated GDP of USD 8 trillion.
With a close to 20-year track record of facilitating trade and investment flows across the MEASA region, the Centre connects these fast-growing markets with the economies of Asia, Europe and the Americas through Dubai.
DIFC is home to an internationally recognised, independent regulator and a proven judicial system with an English common law framework, as well as the region’s largest financial ecosystem of almost 30,000 professionals working across over 4,000 active registered companies – making up the largest and most diverse pool of industry talent in the region.
The Centre’s vision is to drive the future of finance through cutting-edge technology, innovation, and partnerships. Today, it is the global future of finance and innovation hub offering one of the region’s most comprehensive FinTech and venture capital environments, including cost-effective licensing solutions, fit-for-purpose regulation, innovative accelerator programmes, and funding for growth-stage start-ups.
Comprising a variety of world-renowned retail and dining venues, a dynamic art and culture scene, residential apartments, hotels and public spaces, DIFC continues to be one of Dubai’s most sought-after business and lifestyle destinations.
For further information, please visit our website: difc.ae, or follow us on LinkedIn and Twitter @DIFC.
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