Fidelis launches MGA
Bermudian-based Fidelis Insurance has launched managing general agent Radius, which will focus on niche specialty treaty excess of loss business such as cyber, nuclear and PA Retro.
Radius will be run by Rob Ashton who joins the company from Hiscox Re where he was head of specialty. The MGA began writing business today, two months earlier than previously announced in July, according to the statement.
Radius is the first MGA to be launched through Pine Walk Capital. The new subsidiary will be run by Rinku Patel, who most recently worked in the MGA and intermediary space at Hyperion Insurance Group.
Fidelis CEO Richard Brindle, said: “We are delighted to have joined forces with Rob and Rinku furthering our strategy to sponsor specialist underwriting products. Rinku's proficiency in managing MGAs together with our underwriting expertise, make Pine Walk a highly attractive destination for new or existing MGAs.”