Fidelis launches Carnovis as part of rapid MGA expansion to meet demand for structured ART solutions

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1. https://www.commercialriskonline.com/fidelis-launches-global-art-mga/ - Please view link - unable to able to access data
2. https://www.fidelispartnership.com/posts/the-fidelis-partnership-launches-carnovis - The Fidelis Partnership has announced the launch of Carnovis Specialty Limited, a new Alternative Risk Transfer (ART) Managing General Agent (MGA). Carnovis will begin underwriting in December 2025, offering structured re/insurance solutions designed to help clients manage volatility, optimise capital, and build long-term resilience. The MGA will provide excess-of-loss solutions across treaty, captive, and direct lines, as well as quota-share solutions for treaty clients. Based in London, Carnovis will write an international portfolio, with a focus on the US, UK, Europe, Asia-Pacific, and Latin America. Clients will range from established reinsurers and multinational companies to smaller firms seeking efficient risk management solutions across multiple classes. The MGA will be led by Grant Maxwell, who brings over 26 years of alternative risk transfer experience in the London and international markets. Previously, Maxwell was the global head of alternative risk transfer at Allianz Commercial, following senior underwriting, portfolio management, and deal management roles across the organisation. Carnovis becomes the 16th MGA on the Pine Walk platform, which is expected to surpass $1.2 billion in gross written premium in 2025, up from $900 million in 2024. Richard Coulson, deputy CUO and CEO of insurance at The Fidelis Partnership, stated that the launch aligns with TFP’s strategy of supporting specialist, innovation-led underwriting. Maxwell added that structured solutions are increasingly in demand as clients seek long-term partnerships with re/insurers.
3. https://www.insurancebusinessmag.com/us/news/breaking-news/pine-walk-unveils-new-international-casualty-mga-529642.aspx - Pine Walk Capital, the specialist MGA platform owned by The Fidelis Partnership (TFP), has launched Sevanta Specialty Liability, a new international casualty MGA focused on niche specialty liability risks. Sevanta will underwrite both primary and excess business across a global portfolio. The launch marks Pine Walk’s first casualty-focused MGA and aligns with TFP’s strategy to expand its specialty liability capabilities this year. Leading the new MGA is Jon Hiller, former head of international casualty at Sompo International, alongside senior underwriter George Hutton, previously a portfolio manager in Sompo’s wholesale and specialty casualty unit. Pine Walk, founded in 2017, now supports 12 MGAs and provides underwriting, operational, and regulatory frameworks for specialist insurance businesses.
4. https://www.globalreinsurance.com/home/fidelis-partnership-launches-international-casualty-mga-sevanta/1454781.article - The Fidelis Partnership has launched Sevanta Specialty Liability, a new international casualty managing general agent (MGA). Sevanta will focus on niche international specialty liability, writing business on both a primary and excess basis across a global portfolio. This is Pine Walk’s first casualty MGA and aligns with The Fidelis Partnership’s strategy to selectively expand its niche specialty liability product offering in 2025. The firm said it builds on its existing experience and leadership in liability lines embedded in aviation, energy, and marine classes. Jon Hiller, formerly head of international casualty at Sompo International, will lead Sevanta. He is joined by senior underwriter George Hutton, previously a portfolio manager in Sompo’s wholesale and specialty casualty unit. Together, they bring to Sevanta over 30 years of underwriting experience across Lloyd’s, London, and International markets. Founded in 2017, Pine Walk has established 12 MGAs, providing underwriting, operational, and regulatory frameworks to support them. In 2024, Pine Walk’s GWP grew by 11% to $0.9bn.
5. https://www.globalreinsurance.com/home/fidelis-partnership-launches-imala-re-and-opens-miami-office/1456459.article - The Fidelis Partnership has launched a new MGA, Imala Re, through its Pine Walk platform, alongside the opening of a Miami office that will serve as the MGA’s headquarters and mark the group’s first location in North America. Imala Re will write an international portfolio of property, motor, and marine treaty reinsurance, with a focus on Latin American and Caribbean clients. The MGA will provide catastrophe and risk excess of loss as well as quota share solutions, serving both locally domiciled cedants and a select number of multinational groups. The new business will be led by Ivan Vega as chief executive and chief underwriter. Vega has more than 30 years’ experience in reinsurance, most recently as head of Latin America and Caribbean at Navigators Re, where he developed its treaty portfolio. He previously spent eight years at White Mountains Capital as head of property facultative for the same region. Nigel Lee, chief operating officer at Pine Walk, said: “The launch of Imala Re continues Pine Walk’s outstanding momentum, becoming our 14th MGA and the third we have launched in 2025. We see real opportunity and demand in Latin America and the Caribbean and the launch of Imala Re will be a strong complement to TFP’s wider BRICS+ strategy. Ivan’s longstanding experience and deep network make him well placed to lead this new offering, and we look forward to him building out the team to support its growth plans.” Vega said the MGA aims to bring a differentiated approach to clients in the region. “There is strong and increasing demand from clients in Latin America and Caribbean for underwriters that can bring a differentiated approach and show the leadership needed to tackle increasingly complex and interconnected risks,” he said. “Pine Walk is the perfect platform from which to launch Imala Re, allowing us to bring to market a compelling new MGA while benefiting from the reputation, insights, and expertise of The Fidelis Partnership.”
6. https://www.insurancejournal.com/news/international/2025/09/25/840524.htm - Pine Walk Capital Ltd., the specialist MGA platform and wholly owned subsidiary of The Fidelis Partnership (TFP), announced it has launched a new managing general agent, Imala Re. TFP also announced it will be opening a Miami office on Oct. 1 – its first location in the US – which will serve as Imala Re’s headquarters and is the first TFP office in North America. Imala Re will write an international book of Latin American and Caribbean property, motor, and marine treaty reinsurance. Providing a range of catastrophe excess of loss, risk excess of loss, and quota share solutions, its portfolio will be focused primarily on locally domiciled treaty clients, while also serving a select group of multinationals. The MGA will be led by Ivan Vega as CEO and chief underwriter, who brings more than 30 years’ experience in the reinsurance industry, with deep expertise in the Latin American and Caribbean markets. Vega most recently was at Navigators Re, where he had served as head of Latin America and Caribbean since 2010, with responsibility for developing its LatAm treaty portfolio. Prior to this, he spent eight years as head of Property Facultative for LatAm and Caribbean at White Mountains Capital. Founded in 2017, Pine Walk now supports 14 active MGAs, providing custom underwriting, operational, and regulatory frameworks to support their specialist and innovative underwriting offerings. Pine Walk’s GWP is expected to rise to over $1.2 billion in 2025, up from $900 million in 2024.