Fidelis Insurance, the privately owned Bermuda-based holding company, has taken an equity stake in Kersey Specialty Limited, a new Managing General Agent (MGA) with a focus on Upstream Energy subscription market insurance.
The company will also provide underwriting capacity to Kersey, which will be managed through Fidelis’s subsidiary MGA platform, Pine Walk Capital Limited.
Paul Calnan will run run the MGA as Chief Executive Officer (CEO). He most recently served at Ironshore as Director, International Energy for its European business.
Calnan has 30 years’ experience in the re/insurance industry, having begun career at Lloyd’s in 1988 with Octavian Underwriting Limited and later developing upstream accounts at Navigators and C.V. Starr.
“Paul brings extensive knowledge and experience of the Energy Market, including operational, construction and casualty,” said Philip Vandoninck, Executive Head of Partnerships at Fidelis.
“Paul’s excellent underwriting track record comes with strong reinsurance support and Fidelis is pleased to collaborate with Paul’s historical relationships,” Vandoninck added. “We are pleased to support this new MGA and welcome Paul to the Pine Walk group.”
Calnan also commented: “I am delighted to be partnering with Fidelis and Pine Walk in creating this new MGA. Our proposition is to provide thoughtful and comprehensive solutions that are appropriate to the genuine needs and wishes of buyers. We look forward to providing a flexible, consistent and prompt service to all of our customers.”
