Pine Walk Capital Limited, a specialist managing general agent (MGA) platform and subsidiary of The Fidelis Partnership (TFP), has announced the launch of Imala Re, its newest MGA.
The Fidelis Partnership will also open its first US office in Miami on October 1, which will serve as Imala Re’s headquarters and marks TFP’s entry into North America.
Imala Re will focus on writing an international portfolio of Latin American and Caribbean property, motor, and marine treaty reinsurance. The MGA will offer catastrophe excess of loss, risk excess of loss, and quota share solutions, primarily targeting locally domiciled treaty clients, with additional services for select multinational firms.
Ivan Vega has been appointed as CEO and chief underwriter of Imala Re. Vega brings more than 30 years of reinsurance experience, with a background in the Latin American and Caribbean markets. He most recently served as head of Latin America & Caribbean at Navigators Re, overseeing the LatAm treaty portfolio since 2010. Before that, Vega was head of property facultative for LatAm and Caribbean at White Mountains Capital for eight years.
Nigel Lee, chief operating officer at Pine Walk, said, “The launch of Imala Re continues Pine Walk’s outstanding momentum, becoming our 14th MGA and the 3rd we have launched in 2025. We see real opportunity and demand in Latin America and the Caribbean and the launch of Imala Re will be a strong complement to TFP’s wider BRICS+ strategy.”
Meanwhile, the Fidelis Partnership and Pine Walk have seen several leadership changes and strategic expansions earlier this year. Fidelis appointed Jonny Strickle as group managing director, responsible for integrating actuarial, capital, underwriting, and risk functions. Suzanne Wells joined as chief operating officer from Arch Insurance International, and Erik Manning was named head of ceded reinsurance, bringing experience from BMS.
The Fidelis Partnership reported US$4.6 billion in gross written premium (GWP) for 2024, a 29% increase year-over-year. Its Pine Walk platform contributed US$900 million in GWP and added three new underwriting entities: Novagen, Seraphina, and Silverflame Re.
The group also launched Syndicate 3123, which began underwriting during the year and added approximately US$200 million in its first six months of operation.
What are your thoughts on this story? Please feel free to share your comments below.
