Fidelis Partnership launches MGA Seraphina, led by Probitas 1492’s Sanders

Pine Walk Capital Ltd., MGA’s specialist incubator platform and wholly owned subsidiary of The Fidelis Partnership, has announced the launch of MGA Seraphina.

Seraphina will write a broad portfolio of international real estate business, complementing and diversifying Fidelis Partnership’s existing property D&F book and supporting the BRICS+ strategy to broaden the business’ geographic footprint.

The launch also marks a return to the company for Kelly Sanders, who was previously the business’s senior underwriter. Sanders joins from Probitas 1492, where she was senior underwriting and, prior to her most recent stint with Fidelis Insurance, spent over 10 years in senior underwriting roles for StarStone and FM Global.

“The international real estate market is expanding against the backdrop of a growing global economy as well as an increased risk environment driven in part by climate change,” commented Sanders, Seraphina’s founder and chief insurance officer.

“We see a particular appetite for insurance from the BRICS+ region. I know from experience that no company is better placed to capitalize on these changes and opportunities than the Fidelis Partnership, and I look forward to working with the team again,” she added.

Launched in 2017, Pine Walk Capital Ltd. has now established 10 MGAs that provide customized underwriting and operational and regulatory frameworks to support specialized and innovative underwriting offerings. In 2023, Pine Walk’s GWP increased by 43% to $780 million.

“We are excited to launch Seraphina as we continue to grow the Pine Walk platform, in line with our expectation to exceed $1 billion in GWP next year,” according to Rinku Patel, COO of The Fidelis Partnership and CEO of Pine Walk.

“Profitable growth is a natural result of the disciplined approach we take in the markets we have entered. We are also delighted to welcome Kelly back to the group, she has the deep trust of the management team and a strong following in the market,” said Patel. “Her solutions-based approach to underwriting has made her a sought-after partner for brokers and their clients, and we’re excited to get her started.”

Fidelis Partnership is a Bermuda-based private general underwriter that, through its subsidiaries, is a global underwriter of property, custom and specialty insurance and reinsurance products. Fidelis Partnership is owned and operated separately from the ownership and management of Fidelis Insurance Group.

Source: Fidelis Partnership

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