Introduction:

Volt UW, a London MGA launched in October 2024, gives brokers a single point of access to insurance for their clients’ renewable and conventional energy assets. The co-founders, two of London’s most prominent power underwriters and a highly experienced MGA manager saw the opportunity. To get the operation up and running without delay, Volt UW turned to DA Strategy for support in areas including:

• UK and EEA regulatory status
• Lloyd’s coverholder approval
• Binder creation and management
• Terms of Business Agreement management
• Regulatory reporting

The energy insurance market has long suffered bifurcation. Some underwriters have an appetite for conventional energy risks, and others for risks in the fast-growing energy transition sector. But most energy producers do both. The big conventional generators are typically also leaders in the development of green technologies, from wind and solar to hydrogen. So, to obtain complete coverage, they have needed the support of multiple underwriters.

Volt UW’s founders set out to bridge this division by launching an MGA which delivers both broad types of coverage from a single office. The founders began with a best-in-class team of London insurance leaders in the power generation sector.

The timing was right, given the stable market environment, and the growth and profitability of the energy insurance market as a whole, and the transition market in particular. Alternative energy supply is experiencing unprecedented, rising investment levels, on a global scale. Volt UW seeks to insure traditional producers and the new technologies that are coming on stream, both at their construction phase and during operations.

The London-based MGA has begun by offering Property Physical Damage and Business Interruption coverage, as the first building-block of a multi-product strategy. The founders’ intent is to offer multiple relevant products to clients in the energy sector through a market-leading, tech enabled, scalable specialty MGA focused on the generation of profitable returns.

DA Strategy (DAS) was instrumental to ensuring Volt UW’s ambitious launch timetable was executed perfectly. The experts at DAS thoroughly understand what it takes to work at pace in supporting start-up ventures and quickly developed a powerful rapport with Volt UW’s co-founders. Their experience showed through.

DAS outlined the key milestones to be reached and the potential bottlenecks on the way. That helped to ensure information was produced and shared ahead of schedule, which underpinned Volt UW’s timely launch. Their contacts and experience dealing with various carrier partners, Lloyd’s, and the regulators were invaluable in the set-up phase and have been beneficial on an ongoing basis.

Crucially, DAS also enabled Volt UW to achieve global market access, ensuring the MGA could operate efficiently across multiple jurisdictions. This included leveraging DA Strategy Global in Germany to secure EEA access. Without DAS, compliance paperwork could still be the reality, rather than leading global energy slips.