The Fidelis Partnership’s (TFP) wholly-owned subsidiary, Pine Walk Capital Limited, has launched Sevanta Specialty Liability Limited (Sevanta), a new international casualty MGA.
Sevanta will specialise in niche international specialty liability, writing business globally on both a primary and excess basis.
This marks Pine Walk’s first casualty MGA and aligns with TFP’s strategy to expand its specialty liability offerings in 2025. It also builds on TFP’s existing expertise in liability lines such as aviation, energy, and marine.
Jon Hiller, formerly Head of International Casualty at Sompo International, will lead Sevanta. George Hutton, previously a portfolio manager in Sompo’s Wholesale & Specialty Casualty unit, will join him. Together, they bring more than three decades of underwriting experience across Lloyd’s, London, and international markets.
Founded in 2017, Pine Walk provides tailored underwriting, operational, and regulatory frameworks to support specialised underwriting solutions. To date, it has established 12 MGAs, including the recent launch of Silverflame Re, a new specialty reinsurance MGA, in October 2024.
Rinku Patel, Group COO of The Fidelis Partnership and CEO of Pine Walk, said, “Sevanta is an important and exciting new entrant to the Pine Walk platform which will further enhance our MGA portfolio while broadening the range of product capabilities offered through the TFP platform. Responding with leadership, expertise and capacity to solve challenges in the market is at the heart of our approach. We now see the opportunity to deliver this in a number of niches in the casualty space, an area we have historically been deliberately underweight.
“We’re delighted to welcome Jon and George, whose multi-decade international experience, deep market expertise and strong broker relationships will be enormous assets to the business. Building out Sevanta’s specialty liability book will further support the growth the Pine Walk platform in line with our expectations to surpass $1bn in GWP this year.”
Jon Hiller added, “The Fidelis Partnership has built an impressive reputation for its appetite and capability to respond to capacity shortfalls when market dislocation occurs. Against a challenging backdrop for the international casualty market, characterised by high frequency and severity of claims and well-publicised reserve deficiencies, we see a huge opportunity to meet rising client and broker demand for specialty liability products. George and I are thrilled to be working to launch Sevanta and to be joining the Pine Walk platform on its exceptional growth trajectory.”
Fidelis Insurance Group shared with this publication that while the Insurance Group supports The Fidelis Partnership, Casualty is not currently within its risk appetite.
Dan Burrows, CEO of Fidelis Insurance Group, explained, “The Fidelis Partnership remains the cornerstone partner of Fidelis Insurance Group. However, on occasion our risk appetites will vary and, as casualty business is not currently within the appetite of Fidelis Insurance Group, we have chosen not to participate in the Sevanta Pine Walk Cell. This is an example of how the Binder agreement between us and the MGU is working exactly as intended.
“We wish The Fidelis Partnership all the best with the launch of Sevanta. Looking ahead, we continue to see a strong pipeline of opportunity with the Fidelis Partnership, and we are excited about the opportunities to continue to build our underwriting portfolio with them throughout 2025.”
