Fidelis Insurance has taken an equity stake in new MGA Perigon Product Recall, whose main focus will be recall and contamination coverage for food and beverage producers, restaurant operations, auto manufacturers. This will be managed through Pine Walk Capital, Fidelis’ subsidiary MGA platform.
Ian Bailey will run Perigon, bringing over 20 years’ industry experience, 15 of which in the specialist field of product recall and contamination. Beginning his career at Independent Insurance and then progressing to RSA, his focus on product recall began at AIG before moving to XL Catlin and then Hiscox.
"Perigon is a huge opportunity to leverage my extensive relationships and experience of product recall insurance in a close working partnership with Fidelis and Pine Walk. Our proposition is to provide market leading comprehensive solutions focused on first class service for our brokers and clients across a broad range of different product risks," Bailey said. "We look forward to providing a flexible, consistent and empowered service to all of our customers.”
Fidelis will also be providing underwriting capacity for Perigon.
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