Pine Walk Capital Ltd., the specialist managing general agency platform and wholly owned subsidiary of The Fidelis Partnership (TFP), announced the launch of Novagen, a renewables MGA.
Novagen will focus on underwriting the full spectrum of renewable technologies (onshore, offshore, construction and operational) with a global remit. The company will be highly complementary to TFP’s existing renewables and energy transition proposition to best serve clients and brokers.
Leading Novagen will be Valeria Del Villano, who was most recently head of International Renewables at AIG. During her career, Del Villano has also held underwriting roles at Novae and Gcube.
Founded in 2017, Pine Walk has now established nine MGAs providing custom underwriting, operational and regulatory frameworks to support specialist and innovative underwriting offerings.
“We are delighted to further expand our Pine Walk platform with the launch of Novagen. Pine Walk is an important source of both growth and complementary underwriting expertise for the wider group,” commented Rinku Patel, group COO of The Fidelis Partnership and CEO of Pine Walk, in a statement.
“Renewables is an area of huge opportunity for the insurance sector, with our solutions essential for the energy industry as it makes the transition,” said Novagen’s CEO Del Villano.
“Novagen will differentiate itself from the market through a flexible, agile and responsive approach to underwriting,” Del Villano added. “The Fidelis Partnership has already established itself as a leading market and thought leader in this space through its underwriting expertise and cross-class capabilities, and I look forward to complementing this as we build out Novagen’s own distinct proposition.”
The Fidelis Partnership is a privately owned, Bermuda-based managing general underwriter, which, through its subsidiaries, is an underwriter of property, bespoke and specialty insurance and reinsurance products. The Fidelis Partnership, which sponsors and incubates specialist MGAs via its Pine Walk platform, is separately owned and managed from the ownership and management of Fidelis Insurance Group.
Source: The Fidelis Partnership
Photograph: The world’s largest offshore wind farm, Middelgrunden Windmill Farm, located in the Oeresund, three km from Copenhagen harbour Photographer: Getty Images/AFP
Topics Insurance Wholesale
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