Pine Walk launches Bermuda MGA with former Peak Re executive at helm
Pine Walk has expanded its specialist managing general agency platform with the launch of Bermuda-based Adroit Underwriting, appointing former Peak Re executive Jeff Markowski as chief executive officer and chief underwriting officer to lead the new US SME casualty reinsurance business.
Adroit Underwriting will provide reinsurance solutions across a range of US casualty lines, including medical malpractice, cyber liability, general liability, construction (architects & engineers), public entity, directors’ and officers’ liability (D&O)/errors and omissions (E&O), and lawyers legal liability. Capacity will be provided through The Fidelis Partnership’s Syndicates 3123 and 2126, alongside third-party carriers.
Jeff Markowski will lead the business as chief executive officer and chief underwriting officer. Markowski joins from Peak Re, North America, where he was director of underwriting, bringing more than 20 years of US casualty treaty experience.
Derrick Holmes (pictured) has been appointed chief financial officer and chief operating officer. He joins with more than a decade of reinsurance finance and operational experience, including responsibility for agent operations at Peak Capital and experience in the insurance-linked securities (ILS) market.
The launch brings the number of businesses established on the Pine Walk platform to 18, providing underwriting, operational and regulatory infrastructure for specialist underwriting ventures.
Michael Davern, UK CUO and group head of D&F property and energy at The Fidelis Partnership, said: “Pine Walk is a key pillar of TFP’s differentiated distribution footprint and we are pleased to welcome Adroit as its 18th business. Jeff and Derrick bring an outstanding track record and deep market knowledge that make them exceptionally well placed to give brokers a differentiated proposition, rooted in experience, underpinned by a data-driven approach and enhanced by access to TFP’s broader platform to support cross-selling opportunities. This is exactly the kind of opportunity Pine Walk was built for, and we look forward to supporting them going forward.
Markowski added: “The US SME casualty reinsurance market is underserved by specialist underwriters with the depth of relationships and track record to move quickly and with conviction. Adroit has been built to fill that gap - bringing disciplined, actuarially-grounded underwriting to a market that needs it. Launching on the Pine Walk platform means we are backed by industry leading infrastructure, capacity, and support to hit the ground running.”
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