Pine Walk Capital, part of the Fidelis Partnership (TFP), has launched an international casualty managing general agent (MGA), Sevanta Specialty Liability.
Pine Walk’s first casualty-centric MGA will specialise in niche international specialty liability.
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It will write business on a primary as well as excess basis on a global scale.
This launch aligns with TFP’s strategy to expand its specialty liability portfolio by 2025.
The initiative builds on the company’s established presence in liability insurance within the aviation, energy and marine sectors.
Sevanta will be headed by Jon Hiller, former head of international casualty at Sompo International, with George Hutton, previously a portfolio manager at Sompo’s wholesale & specialty casualty unit, joining as senior underwriter.
Hiller and Hutton bring more than 30 years of combined experience in underwriting within Lloyd’s, London, and international insurance markets.
Fidelis Partnership Group COO and of Pine Walk CEO Rinku Patel stated: “Sevanta is an important and exciting new entrant to the Pine Walk platform, which will further enhance our MGA portfolio while broadening the range of product capabilities offered through the TFP platform. Responding with leadership, expertise and capacity to solve challenges in the market is at the heart of our approach. We now see the opportunity to deliver this in a number of niches in the casualty space, an area we have historically been deliberately underweight.
“We are delighted to welcome Jon and George, whose multi-decade international experience, deep market expertise and strong broker relationships will be enormous assets to the business. Building out Sevanta’s specialty liability book will further support the growth [of] the Pine Walk platform in line with our expectations to surpass $1bn in GWP [gross written premium] this year.”
Set up in 2017, Pine Walk has developed a portfolio of 12 MGAs, providing underwriting services as well as operational and regulatory support for specialised underwriting propositions.
In 2024, Pine Walk reported an 11% increase in GWP, amounting to $900m.
Last October, Pine Walk introduced Silverflame Re, a specialty reinsurance MGA.
