Avatar MGA Ltd., a next generation managing general agent (MGA), has received Lloyd’s coverholder and UK regulatory approval to begin binding business from Aug. 1, 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 an investment from South African insurer Santam.
Avatar said it 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 Clare Bailey as head of Property.
Avatar is targeting US mid-market property insurance on risks with total insured values of between US$25 million to US$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.
Combining cutting-edge technology with experienced underwriters, Avatar operates without requiring a large middle-office support team and delivers a highly productive operating model, the company said. Avatar is trading as an appointed representative of Pro Global, the London-based re/insurance outsourcing and consulting specialist.
Simon Clapham is to be appointed the chief executive and chief underwriting officer of Avatar. (His appointment is subject to current contractual obligations at Aon).
With more than 40 years of global experience in the Lloyd’s insurance market, Clapham has worked in underwriting and broking companies in the insurance industry in the UK and the US. He is currently chief underwriting officer at Aon Underwriting Managers, a role he assumed in November 2024. He previously he was head of underwriting performance management at Liberty Specialty Markets and active underwriter for Brit’s Syndicates 800 and 2987.
With more than 25 years of senior leadership experience in the international insurance market, Avatar’s COO Adrian Williams has a background in corporate finance, acquisitions and start-ups at Lloyd’s. His previous roles include co-founder, chief legal officer and head of risk, governance & compliance at Volante Global, managing director and EMEA general counsel at Swiss Re, and head of legal for QBE European Operations.
As Avatar’s head of property, Clare Bailey brings more than three decades of experience in the London and US insurance markets. She has held senior underwriting roles at Unicorn Underwriting, Lancashire Insurance Group, and Aspen Insurance. Her background also includes a range of analytical roles at Faraday Syndicate, Risk Management Solutions (RMS) and Beazley Syndicate.
“We established Avatar to meet demand in US mid-market property risks, creating an efficient underwriting business both in terms of economics and speed,” Williams said in a statement. 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.”
“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,” Bailey commented. “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.”
“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,” said Gareth Beaver, chief executive officer at Santam Specialist Solutions.
“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,” Beaver added.
Source: Avatar MGA Ltd.
Topics USA New Markets Insurance Wholesale Property Aon
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