Fidelis attracts Hiscox Re exec to establish MGA partnership with Nexus
Bermuda-based specialty re/insurance provider Fidelis Insurance is expanding its niche specialty offerings by sponsoring Rob Ashton in his aspirations to establish an MGA (managing general agent) in partnership with Nexus.
The new entity is expected to start writing business in January 2018 and will be focused on niche specialty reinsurance. Fidelis will be providing investment and cornerstone capacity. Ashton will join the Fidelis team in July upon completion of his notice as head of specialty at Hiscox Re Specialty, and write on Fidelis’ account until the MGA is established.
“We are pleased to sponsor someone of Rob’s calibre,” said Dan Burrows, CEO UK. “Rob has earned a strong reputation in this area and has demonstrated innovation and success. We look forward to working with him in expanding our interests in this specialism.”
Richard Coulson, head of specialty underwriting added: “Given prevailing market conditions, Fidelis has seen limited opportunities for profitable mainstream specialty business. As a result, we have supplemented our book by finding ways to add innovation and value, and have compiled a substantial complementary book of more niche specialty line business. It has been a natural progression to combine this with our well-developed reinsurance portfolio and expand into niche specialty reinsurance.”
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