Pine Walk Capital has now established ten MGAs, the latest focused on international property to support the Fidelis Partnership’s BRICS+ strategy to broaden the geographical footprint of the business.
Pine Walk Capital, the specialist managing general agent (MGA) platform owned by The Fidelis Partnership announced the launch of its latest MGA, Seraphina.
Kelly Sanders (pictured) is to return to The Fidelis Partnership as founder and chief underwriting officer of Seraphina, the company said.
Seraphina will write a portfolio of international property business, diversifying The Fidelis Partnership’s existing property direct and facultative book, and supporting its BRICS+ strategy to broaden the geographical footprint of the business, the firm said.
Sanders was formerly a senior underwriter with the business. She joins from Probitas 1492 where she was a senior underwriter and, prior to her last period with Fidelis Insurance, spent over 10 years in senior underwriting roles for StarStone and FM Global.
Launched in 2017, Pine Walk has now established ten MGAs providing custom underwriting, and operational and regulatory frameworks to support specialist and innovative underwriting offerings. In 2023, Pine Walk’s GWP grew 43% to $780m.
“We’re delighted to launch Seraphina as we continue to grow the Pine Walk platform in line with our expectations to surpass $1bn in GWP next year,” said Rinku Patel, group chief operating officer of The Fidelis Partnership and CEO of Pine Walk.
“Profitable growth is a natural result of the disciplined approach we take within the markets we’ve entered.
“We’re also delighted to welcome Kelly back to group, she has the deep trust of the leadership team and a large following in the market. Her solution-based underwriting approach has made her a sought-after partner for brokers and their clients, and we are excited for her to start,” Patel said.
Sanders added: “The international property market is expanding, within the overall context of a growing global economy as well as a heightened risk environment, driven, in part, by climate change.
“We’re seeing particular appetite for insurance from within the BRICS+ region. From experience, I know that no company is better placed to capitalise on these changes and opportunities than The Fidelis Partnership and I can’t wait to work with the team again.”
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