Pine Walk Capital Limited, a Fidelis Group company and specialist MGA platform, has announced the launch of its sixth MGA, OPEnergy Limited.
OPEnergy received regulatory approval from the FCA on 6 January 2022 and will write onshore and offshore energy liability risks, providing public, products and pollution liability lines.
The MGA is led by tunderwriter Oliver Brown as CEO, who has successfully created, developed and managed energy liability portfolios at Berkshire Hathaway Specialty Insurance (BHSI), Catlin and Zurich.
Also joining OPEnergy from BHSI is Penny Wang who brings over 15 years’ energy liability underwriting experience, having previously worked at Starr and Zurich.
OPEnergy was the second MGA to join the Pine Walk platform in 2021, following Clive Washbourn’s specialty marine MGA Navium which launched in May.
“OPEnergy’s launch further underlines Pine Walk’s ambitious growth agenda over the next five years and attracting entrepreneurial underwriting talent like Oliver Brown to our platform is a key part of our strategy,” said CEO Rinku Patel.
“The energy liability market has shown significant price strengthening over the last few years; this combined with Oliver’s experience and market reputation made launching OPEnergy an easy decision for both of us.”
Brown also commented: “OPEnergy’s extensive offering will differentiate us from the rest of the Market by providing flexible, tailored solutions to the ever-changing landscape faced by energy companies. We are looking forward to working with clients and brokers to develop long-term relationships and create a profitable portfolio.”
“Pine Walk’s operating model means that Penny and I can concentrate on underwriting and re-establishing our core broker relationships,” Brown continued.
“We see a significant opportunity to bring new risk solutions to the energy liability market in 2022. With Pine Walk and Fidelis’ backing, we will be able to make a meaningful impact very quickly. OPEnergy is trading and we are ready to welcome brokers to our new Lime Street office.”
Richard Coulson, Chief Executive Officer of Insurance and Chief Underwriting Officer of Fidelis Underwriting Limited, added: “Fidelis in partnership with Pine Walk is always looking for ways to bring market leading underwriting expertise into the Group and expanding and cross selling amongst our product offerings. As Fidelis continues to grow we become more and more relevant to our clients and brokers”.