Pine Walk launches new MGA

Pine Walk Capital has launched its seventh MGA. Pernix Specialty specialises in political risk and non-payment risks and will be led by CEO Kade Spears and CUO Caroline Coulson.

The new MGA will also cover various political violence perils on a selective basis.

Prior to launching Pernix, Kade Spears was SCOR’s global head for political and non-payment risks, founding the team in 2013. He was also head of the political and non-payment risks team at Aspen.

CUO Caroline Coulson (pictured) has 20 years’ underwriting and political risk assessment experience. She was previously a senior underwriter at SCOR and has previously held roles at Lancashire, Aegis and Sovereign Bermuda.

CEO Rinku Patel said: “Pernix’s launch further underlines Pine Walk’s ambitious growth agenda over the next five years and attracting entrepreneurial underwriting talent like Kade and Caroline to the Pine Walk platform is a key part of our strategy.”

Pernix CEO Kade Spears added: “Pine Walk offer an outstanding wrap-around suite of services which delivered what we needed to take our collective expertise to the market, and in a fast and efficient way. Adding in the backing and financial strength of Fidelis, it was straightforward to see the solution for what we want to achieve. Speaking with Rinku and his team about our desire to uphold an ethical underwriting approach was equally straightforward, we’re looking forward to a long term and successful partnership.”

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