Markel’s Nephila sells stake in MGA platform Volante to Acrisure
Bermuda-based Nephila Holdings has sold its stake in managing general agent (MGA) platform Volante Global to fintech company Acrisure, which is acquiring the business.
Nephila, now part of Markel, was the majority investor in the business.
Headquartered in London with a presence in seven countries, Volante Global provides niche, specialist re/insurance products. Its 2021 premiums were about $350m and are forecasted to reach nearly $1bn by 2025.
Acrisure is acquiring all of Volante’s brands, including Aesir Space, a London-based specialist space MGA; Horizon Europe, an MGA focused on the European Property & Casualty sector; and all territory-based MGAs like Volante Germany and Volante Canada.
Greg Williams, co-founder, CEO and president of Acrisure, said: “In particular, we value Volante for being highly skilled underwriters in an entrepreneurial culture given it’s a founder-led company under Talbir Bains.”
Frank Majors, founder and co-CEO of Nephila, said Bains had achieved “tremendous success, much faster than we could have imagined”.
Bains added: “Joining Acrisure will spur Volante’s growth, predicated on delivering the highest underwriting margin to our capital providers.”
The terms of the transaction were not disclosed.
