The Fidelis Partnership Launches MGA Seraphina, Led by Sanders From Probitas 1492

Pine Walk Capital Ltd., the specialist MGA incubator platform and wholly owned subsidiary of The Fidelis Partnership, announced the launch of the MGA Seraphina.

Seraphina will write a broad portfolio of international property business, complementing and diversifying The Fidelis Partnership’s existing property D&F book and supporting the BRICS+ strategy to broaden the geographical footprint of the business

The launch also marks a return to the company for Kelly Sanders, who was formerly a senior underwriter with the business. Sanders joins from Probitas 1492 where she was a senior underwriter and, prior to her last period with Fidelis Insurance, spent over 10 years in senior underwriting roles for StarStone and FM Global.

“The international property market is expanding, within the overall context of a growing global economy as well as a heightened risk environment, driven, in part, by climate change,” commented Sanders, founder and chief underwriting officer of Seraphina.

“We’re seeing particular appetite for insurance from within the BRICS+ region. From experience, I know that no company is better placed to capitalise on these changes and opportunities than The Fidelis Partnership and I can’t wait to work with the team again,” she added.

Launched in 2017, Pine Walk Capital Ltd. has now established 10 MGAs providing custom underwriting, and operational and regulatory frameworks to support specialist and innovative underwriting offerings. In 2023, Pine Walk’s GWP grew 43% to $780 million.

“We’re delighted to launch Seraphina as we continue to grow the Pine Walk platform in line with our expectations to surpass $1bn in GWP next year,” according to Rinku Patel, group COO of The Fidelis Partnership and CEO of Pine Walk.

“Profitable growth is a natural result of the disciplined approach we take within the markets we’ve entered. We’re also delighted to welcome Kelly back to group, she has the deep trust of the leadership team and a large following in the market,” Patel said. “Her solution-based underwriting approach has made her a sought-after partner for brokers and their clients, and we are excited for her to start.”

The Fidelis Partnership is a privately-owned, Bermuda-based managing general underwriter, which, through its subsidiaries, is a global underwriter of property, bespoke and specialty insurance and reinsurance products. The Fidelis Partnership is separately owned and managed from the ownership and management of Fidelis Insurance Group.

Source: The Fidelis Partnership