MGA platform Pine Walk Capital Limited has launched its seventh MGA, Pernix Specialty Limited. It specialises in political risk and non-payment risks and will be led by CEO Kade Spears (pictured) and CUO Caroline Coulson.

Previously, Spears was global head for political and non-payment risks at SCOR, having founded the team in 2013. Coulson has 20 years’ underwriting and political risk assessment experience and was previously a senior underwriter at SCOR.

Spears said: “Pine Walk offer an outstanding wrap-around suite of services which delivered what we needed to take our collective expertise to the market, and in a fast and efficient way. Adding in the backing and financial strength of Fidelis, it was straightforward to see the solution for what we want to achieve.”

Rinku Patel, CEO of Pine Walk, said: “Pernix’s launch further underlines Pine Walk’s ambitious growth agenda over the next five years and attracting entrepreneurial underwriting talent like Kade and Caroline to the Pine Walk platform is a key part of our strategy.”

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