Avatar MGA launches with Lloyd’s coverholder and FCA approval

Managing general agent (MGA), Avatar MGA Ltd (Avatar), has received Lloyd’s coverholder and Financial Conduct Authority (FCA) approval, and is set to commence binding business from August 1st, 2025.

The new MGA is backed by three market-leading syndicates at Lloyd’s, the Aon Reinsurance team, and South African insurer Santam, which invested in the entity.

Avatar is a US D&F property-focused MGA, leveraging best-in-class technology, and enhanced data analytics to reflect risk appetite, enabling critical “human in the loop” underwriters to price risks quickly and accurately.

The firm targets US mid-market property insurance on risks with total insured values of between $25 million to $1 billion.

Powered by Verisk technology, Avatar applies advanced data analytics to primary and secondary catastrophe exposures, facilitating improved risk assessments, fast response times, and precise pricing.

The MGA aims to combine cutting-edge technology with experienced underwriters, and operates without requiring a large middle-office support team, delivering a highly productive operating model.

Avatar is led by an executive team of industry experts with Simon Clapham as Chief Executive Officer designate, Adrian Williams as Chief Operating Officer, and Clare Bailey as Head of Property. Combined, the trio bring deep expertise in the insurance market.

Williams commented, “We established Avatar to meet demand in US mid-market property risks, creating an efficient underwriting business both in terms of economics and speed. We are grateful for the support we have received from Santam, the Aon Reinsurance team, our carriers at Lloyd’s and Verisk, enabling us to launch our underwriting proposition to the market.”

Bailey added, “US property as a class offers the largest and richest data set of any risk category globally and provides a fantastic opportunity to use this data for augmented underwriting on multiple risks. Our next-generation approach combines the efficiencies of technology, large data sets and human expertise, to assess and price risks more effectively. We will assess both primary and secondary catastrophe exposures, achieving insightful underwriting, speed and efficiency for brokers and assureds.”

Gareth Beaver, CEO, Santam Specialist Solutions, said, “We are very excited about our partnership with the Avatar team and the geographical and business diversification that their business will bring to the Santam Group.

“This strategic investment, together with our new Lloyd’s-based Santam Syndicate 1918, is an important lever in achieving our 2030 FutureFit strategic goals, of which international growth and diversification are key.

“The Avatar business has a team with vast experience and leadership in both the London and international markets, providing Santam with additional leverage opportunities in pursuit of our international footprint.”