Pine Walk launches Silverflame Re to expand specialty reinsurance portfolio
Pine Walk launches Silverflame Re to expand specialty reinsurance portfolio | Insurance Business America
Reinsurance
Pine Walk launches Silverflame Re to expand specialty reinsurance portfolio
It will focus on marine, energy, and credit
Reinsurance
By
Kenneth Araullo
Pine Walk Capital Limited, the specialist managing general agent (MGA) platform and wholly owned subsidiary of The Fidelis Partnership (TFP), has announced the launch of Silverflame Re, a new specialty reinsurance MGA.
The new entity will complement TFP’s existing specialty reinsurance portfolio, initially focusing on marine, energy & composite, and credit & surety treaty lines. Silverflame Re becomes the 11th MGA under Pine Walk’s platform, further expanding the group’s offering.
Leading the underwriting team at Silverflame Re are Jenan Nakeeb, formerly a specialty underwriter at Tamesis DUAL, and Elizabeth Powell, previously head of differentiated underwriting at Aegis.
Powell will join as managing director on Dec. 2. Together, Nakeeb and Powell bring more than 30 years of combined underwriting experience and established broker relationships.
Founded in 2017, Pine Walk provides custom underwriting, operational, and regulatory frameworks to support innovative underwriting solutions. In 2023, the platform’s gross written premium (GWP) grew by 43% to $780 million.
Rinku Patel (pictured above), group COO of The Fidelis Partnership and CEO of Pine Walk, said that the launch of Silverflame Re marks another step in Pine Walk’s growth and supports the objective of surpassing $1 billion in GWP by next year.
“It’s a pleasure to welcome Elizabeth and Jenan, whose large following, unique skillsets and decades of experience will prove invaluable as we build out Silverflame Re’s specialty reinsurance offering. We continue to be encouraged by the pace at which we are bringing in leading underwriting talent as Pine Walk continues to support the wider group through profitable growth, disciplined exposure and complementary underwriting expertise,” Patel said.
Nakeeb noted the increased demand for specialty reinsurance solutions in complex sectors such as marine, energy, and credit.
“We are excited about the potential for Silverflame Re to offer a differentiated, nimble, and high-conviction approach to underwriting. We look forward to complementing The Fidelis Partnership’s established reputation as a leader and an innovator in this space – and to further bolstering its cutting-edge, cross-class reinsurance capabilities,” Nakeeb said.
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