Pine Walk Capital, a subsidiary of the Fidelis Partnership, has launched Seraphina, its new MGA focused on international property business.
Seraphina will write a broad portfolio of international property business, aiming to complement and diversify the Fidelis Partnership’s existing Property D&F book.
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Kelly Sanders is the founder and chief underwriting officer of Seraphina.
Sanders previously held a senior underwriter position within the company. Her experience includes senior roles at Probitas 1492, StarStone and FM Global.
Sanders said: “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 are 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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By GlobalDataThe launch aligns with the company’s BRICS+ strategy, which seeks to expand its global presence.
Pine Walk CEO and Fidelis Partnership Group COO Rinku Patel said: “We are delighted to launch Seraphina as we continue to grow the Pine Walk platform in line with our expectations to surpass $1bn in GWP [gross written premium] next year. Profitable growth is a natural result of the disciplined approach we take within the markets we have entered.”
Last year, Castlelake and Pine Walk Capital launched a new MGA, Itasca MGA, focusing on the aviation sector.
Since its inception in 2017, Pine Walk Capital has established ten MGAs.
These entities provide underwriting services, operational support and regulatory frameworks designed to foster specialist and innovative underwriting solutions.
In 2023, Pine Walk Capital reported a 43% surge in GWP, reaching $780m (£582.33m).
