Lancashire founder Richard Brindle’s insurer makes hires from big name firms for new unit

Lancashire founder Richard Brindle’s new insurance group Fidelis Insurance has launched its first MGA.

The MGA, called Radius, will be run by former Hiscox Re head of specialty Rob Ashton and will write niche speciality treaty excess-of-loss reinsurance business.

Radius is the first MGA to be launched through Fidelis subsidiary Pine Walk Capital, which is headed by former Hyperion finance director Rinku Patel. He was also previously chief financial officer and chief operating officer of Hyperion-owned MGA DUAL International.

Brindle, Fidelis’s chief executive, said: “We are delighted to have joined forces with Rob and Rinku furthering our strategy to sponsor specialist underwriting products. Rinku’s proficiency in managing MGAs together with our underwriting expertise, make Pine Walk a highly attractive destination for new or existing MGAs.”

Rob Ashton added: “It has been a pleasure collaborating with Rinku and the Fidelis team in establishing Radius – especially in achieving this sooner than expected.”

Brindle left Lancashire, a specialist London-based insurer he founded in 2005, in 2014. He launched Fidelis Insurance in 2015.