Pine Walk Capital Ltd., the specialist MGA platform and wholly owned subsidiary of The Fidelis Partnership (TFP), announced the launch of an international casualty MGA called Sevanta Specialty Liability Ltd.
Sevanta will focus on niche international specialty liability, writing business on both a primary and excess basis across a global portfolio.
Sevanta is Pine Walk’s first casualty MGA and aligns with TFP’s strategy to selectively expand its niche Specialty Liability product offering in 2025. This builds on TFP’s existing experience and leadership in such liability lines embedded in classes such as aviation, energy and marine.
Jon Hiller, formerly head of International Casualty at Sompo International, will lead Sevanta. He is joined by Senior Underwriter George Hutton, previously a portfolio manager in Sompo’s Wholesale & Specialty Casualty unit. Together, they bring to Sevanta over 30 years of underwriting experience across Lloyd’s, London and International markets.
Founded in 2017, Pine Walk has now established 12 MGAs and provides custom underwriting, operational and regulatory frameworks to support specialist and innovative underwriting offerings. In 2024, Pine Walk’s GWP grew by 11% to $900 million.
“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,” commented Rinku Patel, group COO of The Fidelis Partnership and CEO of Pine Walk.
“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,” Patel added.
“We’re 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 the Pine Walk platform in line with our expectations to surpass $1 billion in GWP this year,” he said.
“The Fidelis Partnership has built an impressive reputation for its appetite and capability to respond to capacity shortfalls when market dislocation occurs,” according to Hiller.
“Against a challenging backdrop for the international casualty market, characterised by high frequency and severity of claims and well-publicised reserve deficiencies, we see a huge opportunity to meet rising client and broker demand for specialty liability products,” Hiller continued. “George and I are thrilled to be working to launch Sevanta and to be joining the Pine Walk platform on its exceptional growth trajectory.”
The Fidelis Partnership is separately owned and managed from the ownership and management of Fidelis Insurance Group. TFP has a strategic underwriting relationship with the group.
“The Fidelis Partnership remains the cornerstone partner of Fidelis Insurance Group. However, on occasion our risk appetites will vary and, as casualty business is not currently within the appetite of Fidelis Insurance Group, we have chosen not to participate in the Sevanta Pine Walk Cell. This is an example of how the binder agreement between us and the MGU is working exactly as intended,” commented Dan Burrows, CEO of Fidelis Insurance Group.
“We wish The Fidelis Partnership all the best with the launch of Sevanta. Looking ahead, we continue to see a strong pipeline of opportunity with the Fidelis Partnership, and we are excited about the opportunities to continue to build our underwriting portfolio with them throughout 2025,” Burrows added.
About The Fidelis Partnership
The Fidelis Partnership is a privately-owned, Bermuda-headquartered managing general underwriter, which, through its subsidiaries, is a global underwriter of property, bespoke and specialty insurance and reinsurance products. The Fidelis Partnership is one of the largest MGUs globally and its operations also include ceded reinsurance, claims handling, exposure management and portfolio analytics. The Fidelis Partnership also sponsors and incubates specialist MGAs through its Pine Walk platform.
Source: Pine Walk Capital Ltd.
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