Specialist managing general agent (MGA) platform and The Fidelis Partnership subsidiary Pine Walk Capital has announced the launch of Corsiam Specialty.
Corsiam will operate as a new MGA focused on accident and health (A&H) insurance and reinsurance, backed by The Fidelis Partnership Syndicate 3123 at Lloyd’s.
Corsiam is set to underwrite a broad portfolio of global A&H business. Tim Morgan (pictured above), who previously worked at Beazley, will serve as Corsiam’s lead underwriter. Morgan brings more than 20 years of experience in managing global A&H portfolios.
Senior underwriter David Walker will join Morgan, contributing an additional 30 years of experience in underwriting and broking, most recently as founder and managing director of G&G Insurance Brokers.
Pine Walk was established in 2017 and, with the addition of Corsiam, now has 15 MGAs under its platform. The company provides underwriting, operational, and regulatory support for specialist and innovative insurance offerings. Pine Walk expects its gross written premium (GWP) to rise to over US$1.2 billion in 2025, up from US$0.9 billion in 2024.
“With A&H representing a new line of business for TFP, Corsiam is an exciting addition to the Pine Walk platform." said Nigel Lee, chief operating officer of Pine Walk. "It further expands our product capabilities while also supporting the diversification of TFP’s global re/insurance portfolio and again demonstrates the attractiveness of the Pine Walk proposition for leading underwriters in a class.”
Lee also said that the launch of Corsiam as the 15th MGA is a testament to Pine Walk’s momentum and its ability to match risks to capacity appetite.
“David and I are delighted to be launching Corsiam against a rapidly evolving market backdrop in which clients and brokers are increasingly seeking tailored solutions, significant capacity, and trusted partners to insure complex A&H risks,” Morgan said.
Morgan noted that the A&H class now accounts for over US$7 billion in annual premium, presenting a considerable growth opportunity for The Fidelis Partnership.
The launch of Corsiam comes as The Fidelis Partnership continues to expand its MGA platform. Earlier this month, Pine Walk and The Fidelis Partnership introduced Imala Re, a Miami-based MGA focused on Latin American and Caribbean reinsurance, and opened their first US office in Miami. Imala Re will target regional property, motor, and marine treaty reinsurance, further extending Pine Walk’s reach into new markets.
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