Pine Walk, the specialist MGA platform and wholly owned subsidiary of The Fidelis Partnership (TFP), has announced the launch of a new Alternative Risk Transfer managing general agent (MGA), Carnovis Specialty Limited.
The offerings are designed to assist clients in managing volatility, optimising capital, and enhancing long-term resilience.
Solutions will encompass a variety of excess-of-loss products, including those for Treaty, Captive, and Direct lines, as well as quota-share solutions for Treaty clients.
Carnovis aims to attract a diverse range of clients, from established reinsurers and multinational corporations (including their captives, to smaller firms seeking efficient, multi-class, and long-term risk management.
The MGA will be led by Grant Maxwell, who brings over 26 years’ experience in Alternative Risk Transfer across the London and international markets.
Before establishing Carnovis, Grant spent five years as Global Head of Alternative Risk Transfer at Allianz Commercial following a decade in other leadership roles across the business, including Global Head of Underwriting & Portfolio Management and Head of Deal Management & Regional Unit London.
Maxwell, Founder and CEO of Carnovis, said: “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.”
Carnovis will be the 16th MGA for Pine Walk which was founded in 2017 to provide custom operational, technical support and regulatory frameworks to allow the underwriters to focus on their specialist and innovative product offerings.
Pine Walk’s GWP is expected to surpass $1.2 billion in 2025, up from $0.9 billion in 2024.
Richard Coulson, Deputy CUO and CEO of Insurance at The Fidelis Partnership, commented: “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 and his team are exceptionally well-positioned to make a valuable impact on this market, and we look forward to supporting their growth and success.”
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