Managing general agent Amiga Specialty has agreed to acquire Volante International Limited’s professional indemnity renewal portfolio. The deal follows Volante’s Lloyd’s syndicate 1699 going into run-off earlier this year and offers continuity for existing policyholders and placing brokers.

The syndicate began trading in the 2022 year of account with an initial stamp capacity of £130m. Amiga, which was founded last year, says the deal will support its efforts to grow its presence in the market.

David Filtness, managing director of Amiga Specialty professional indemnity, said: “We have carefully analysed the portfolio and are confident it is a well-run, well-managed book of quality professional indemnity business that fits our underwriting appetite.

“Acquiring the exclusive renewal rights allows us to support the brokers who placed the business and ensure they retain access to experienced underwriters, A-rated capacity and a specialist market with a clear appetite to grow. Our priority is to deliver a smooth transition and provide brokers and policyholders with continuity, certainty and high-quality service.”