The Fidelis Partnership has expanded its Pine Walk MGA platform with the launch of Carnovis Specialty Limited, a new alternative risk transfer business that will begin underwriting in December 2025.

The London-based MGA will offer excess-of-loss and quota share arrangements across treaty, captive and direct lines. It aims to write an international portfolio weighted towards the US and UK with additional exposure to Europe, APAC and Latin America. Clients will include major reinsurers, multinationals and captives, as well as smaller firms seeking more efficient risk management solutions over multiple underwriting years.

Carnovis will be led by Grant Maxwell, who has more than 26 years of experience in ART. He previously served as global head of alternative risk transfer at Allianz Commercial, and has held senior roles in underwriting, portfolio management and deal management.

Richard Coulson, deputy CUO and chief executive of insurance at The Fidelis Partnership, said: “We’re thrilled to welcome Carnovis to the Pine Walk platform. This launch reflects our commitment to innovation in the re/insurance market, and we’re excited about the opportunities Carnovis brings to deliver bespoke, capital-efficient solutions to clients worldwide.”

Grant Maxwell, founder and CEO of Carnovis, added: “Across the market, we’re seeing growing demand for structured solutions that bridge the gap between traditional re/insurance and capital markets. Clients want long-term, partnership-based relationships with their re/insurers, underpinned by tailored terms that better reflect their portfolio and strategic goals. Carnovis is purpose-built to deliver that flexibility – bringing together innovation, capital efficiency, and balance sheet strength to create value over multiple underwriting years.”

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