Specialist managing general agent (MGA) platform Pine Walk Capital, a subsidiary of The Fidelis Partnership, has announced the launch of its newest MGA, Seraphina.
Seraphina will focus on writing a broad portfolio of international property business, complementing and diversifying TFP’s existing property direct and facultative (D&F) book. The new MGA is expected to support the company’s BRICS+ strategy, which aims to expand its geographical footprint.
The launch also marks the return of Kelly Sanders (pictured above) to the company, who previously served as a senior underwriter at Fidelis. Sanders joins Seraphina from Probitas 1492, where she held a senior underwriting role.
Prior to her earlier period with Fidelis, Sanders spent over a decade in senior underwriting roles with StarStone and FM Global.
Since its inception in 2017, Pine Walk Capital has established 10 MGAs, providing custom underwriting, as well as operational and regulatory frameworks to support specialist offerings. In 2023, Pine Walk reported 43% growth in gross written premiums (GWP), reaching $780 million.
Rinku Patel, group chief operating officer of The Fidelis Partnership and CEO of Pine Walk, commented on the launch of Seraphina, noting that the company expects to surpass $1 billion in GWP next year.
“We’re also delighted to welcome Kelly back to group, she has the deep trust of the leadership team and a large following in the market. Her solution-based underwriting approach has made her a sought-after partner for brokers and their clients, and we are excited for her to start,” Patel said.
Kelly Sanders, founder and chief underwriting officer of Seraphina, stated that the international property market is expanding due to a growing global economy and increased risks, partly driven by climate change.
“We’re 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,” Sanders said.
What are your thoughts on this story? Please feel free to share your comments below.
