Avatar MGA Ltd (“Avatar”), a next generation managing general agent (MGA), has received Lloyd’s coverholder and FCA approval* and will begin binding business from 1st August 2025.
The US D&F property focused MGA is backed by three market-leading syndicates at Lloyd’s, the Aon Reinsurance team and has received investment from South African insurer Santam. Avatar leverages 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 company will be led by an executive team of industry experts that includes chief executive officer designate** Simon Clapham, chief operating officer Adrian Williams, and head of property Clare Bailey. Combined, they bring depth, experience, contacts and knowledge in the insurance market.
Avatar targets US mid-market property insurance on risks with total insured values of between US$25m to US$1bn. 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. Combining cutting-edge technology with experienced underwriters, Avatar operates without requiring a large middle-office support team and delivers a highly productive operating model.
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, chief executive officer at 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”.