B.P. Marsh & Partners fund Volt with up to £2.5m, subscribe to 25.5% share

Specialist private equity investor B.P. Marsh & Partners Plc has subscribed for a 25.5% cumulative preferred ordinary shareholding in Volt, a London-domiciled start-up managing general agency (MGA).

As part of the investment, B.P. Marsh has provided funding of up to £2.5 million via both equity and a loan facility, which has been partially drawn upon completion.

Volt is an energy transition MGA launched to support clients active in the energy transition sector, with a clear focus on insuring property risks associated with power generation and midstream energy, in both the non-renewable and renewable sectors.

The company was co-founded by industry veteran underwriters, Chris Allison, Chief Executive Officer; Andrew Tokley, Chief Underwriting Officer; and MGA management specialist Kevin Cleary, Chief Operating Officer, and is backed by B.P. Marsh.

Each of the co-founders brings over 25 years of experience working in senior leadership positions at several underwriting-led businesses, including large re/insurance companies, Lloyd’s syndicates and MGAs, each having a proven track record of success.

Volt is a Lloyd’s Coverholder and has secured A-rated capacity from Lloyd’s, with the long-term profitability and sustainability for re/insurers being central to its business plan, it will underwrite a global portfolio of energy businesses, focused particularly on the US.

Before Volt, Chris Allison, worked at Travelers Syndicate for the last 17 years, during his tenure, he held various senior roles including, most recently the Active Underwriter & Head of Specialty. He also has experience holding senior roles at Aegis, Chubb and Allianz.

Tokley also recently worked at Travelers Syndicate, holding various senior roles, most recently as Head of Energy, Property & Construction, having held previous roles at Aegis, Chubb and Swiss Re.

Cleary has held several senior Management positions, having spent the last 8 years at Optio, in various roles, including Chief Operating Officer.

As part of this transaction, Abi Benson, an Investment Director and Executive Director of B.P. Marsh & Company Ltd, will be appointed to the Board of Volt.

Dan Topping, Chief Investment Officer, B.P. Marsh, commented on this investment: “B.P. Marsh are pleased to be making this investment in Volt, founded by a seasoned and skilled management team.

“We look forward to working with Chris, Andrew and Kevin, to deliver on their business plan over the coming years, harnessing our experience and expertise in assisting specialist start-up underwriting agencies to develop and grow.”

Allison stated: “We look forward to working with B.P. Marsh, as we enter the next phase of our careers in establishing Volt.

“Alongside B.P. Marsh, our goal is to build Volt into a successful best-in-class MGA, with Energy being our marquee product line, with other synergistic product offerings being developed over time. B.P. Marsh has a proven record of investments in our space, and we believe that they are the perfect partners to help Volt achieve its long-term goals.”

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