London-based Volt Underwriting, a Lloyd’s approved coverholder, has announced a significant increase in its underwriting capacity for 2025, as it has secured a new $37.5 million binding authority for onshore power and renewable energy risks in the US and internationally.

This represents a 50% increase in Volt’s capacity to underwrite these types of risks.

The binder will continue to be led by Dale Underwriting Partners’ Lloyd’s Syndicate 1729, with support from SiriusPoint Syndicate 1945.

Tokio Marine Kiln Syndicate 510 and Blenheim Syndicate 5886, both leading Lloyd’s markets, have joined the consortium.

Chris Allison, Volt CEO, said: “We’ve enjoyed an excellent start since our launch, with tremendous support from all our broker partners. Our value proposition to the market has been well received, and we are delighted to expand the binder with Tokio Marine Kiln and Blenheim.

“This new capacity significantly strengthens our offering as we look to establish Volt as a key market in the Power and Renewable Energy space.”

Richard Hooks, Departmental Head of Marine & Energy at Tokio Marine Kiln, commented:, “Volt has made a strong start and we are very happy to support Chris and his team. Their underwriting expertise is complementary to our own and we believe this binder will be a great addition to our growing portfolio.”

Launching back in October, managing general agent (MGA) Volt Underwriting was created to support clients active in the energy transition sector.

It 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.

The MGA aims to offer additional products in the future, with capacity expected to grow substantially next year.