Fidelis Insurance has announced that it has created its first managing general agent, Radius, two months ahead of schedule.
Radius began writing business on November 1st, earlier than was announced when it was first unveiled in July. Radius will be run by Rob Ashton and will focus on niche specialty treaty excess of loss business, such as Cyber, Nuclear and PA Retro. Ashton joins from Hiscox Re where he was head of Ssecialty.
“We are delighted to have joined forces with Rob and Rinku furthering our strategy to sponsor specialist underwriting products,” said Richard Brindle, group chief executive officer of Fidelis. “Rinku’s proficiency in managing MGAs together with our underwriting expertise, make Pine Walk a highly attractive destination for new or existing MGAs.”
Radius is the first MGA to be launched through Pine Walk Capital. The new subsidiary will be run by Rinku Patel, who brings a wealth of experience in the MGA and intermediary space, most recently at Hyperion Insurance Group.
Rob Ashton commented: “It has been a pleasure collaborating with Rinku and the Fidelis team in establishing Radius – especially in achieving this sooner than expected.”
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