Fidelis has announced the launch of its first managing general agent (MGA), Radius.
Radius will be run by former Hiscox Re head of specialty, Rob Ashton and will focus on niche specialty treaty excess of loss business such as cyber, nuclear and PA retro.
The MGA will commence writing business on 1 November, two months earlier than previously announced in July, Fidelis noted.
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.
Commenting on the announcement, Fidelis CEO Richard Brindle said: “We are delighted to have joined forces with Rob and Rinku furthering our strategy to sponsor specialist underwriting products. Rinku’s proficiency in managing MGAs together with our underwriting expertise, make Pine Walk a highly attractive destination for new or existing MGAs.”
Rob Ashton added: “It has been a pleasure collaborating with Rinku and the Fidelis team in establishing Radius – especially in achieving this sooner than expected.”