Fidelis Insurance has launched its first managing general agent (MGA), Radius, and has announced that it will be led by Rob Ashton, who joins from reinsurer Hiscox Re.
It was announced in July, 2017 that the specialist MGA would begin writing business from January 1st, 2018, but this has now been brought forward two months and the MGA will commence writing business on November 1st, 2017.
The MGA will focus on niche speciality excess of loss business, including cyber, nuclear and PA Retro.
Ashton was previously Head of Specialty at Hiscox Re, the reinsurance arm of global re/insurer Hiscox.
Ashton, commented; “It has been a pleasure collaborating with Rinku and the Fidelis team in establishing Radius – especially in achieving this sooner than expected.”
Radius has been launched through Fidelis’ Pine Walk Capital Limited subsidiary, which will be run by Rinku Patel, who has extensive MGA and intermediary experience, most recently with Hyperion Insurance Group.
Fidelis Chief Executive Officer (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.”