The new managing agent underlines the platform’s ‘ambitious’ five-year growth agenda’, says chief executive

Specialist MGA platform Pine Walk Capital, backed by Fidelis, has launched its sixth MGA – OPEnergy.

OPEnergy received regulatory approval from the FCA on 6 January 2022 and will write onshore as well as offshore energy liability risks, offering public products and pollution liability lines.

The new managing general agent is led by chief executive Oliver Brown, who previously created, developed and managed energy liability portfolios at Berkshire Hathaway Specialty Insurance (BHSI), Catlin and Zurich.

Also joining OPEnergy from BHSI is Penny Wang, who brings more than 15 years of energy liability underwriting experience to the team.

OPEnergy is the second MGA to join Pine Walk Capital’s platform in 2021, following Clive Washbourn’s specialist marine MGA Navium launching in May.

‘Significant opportunity’

Pine Walk Capital chief executive Rinku Patel said OPEnergy’s launch underlines the platform’s “ambitious growth agenda over the next five years”, with Brown’s hire being a “key” part of the move.

He continued: “The energy liability market has shown significant price strengthening over the last few years. This, combined with Oliver’s experience and market reputation, made launching OPEnergy an easy decision for both of us.”

Brown added: “Pine Walk’s operating model means that Penny and I can concentrate on underwriting and re-establishing our core broker relationships.

“We see a significant opportunity to bring new risk solutions to the energy liability market in 2022.

“With Pine Walk and Fidelis’ backing, we will be able to make a meaningful impact very quickly. OPEnergy is trading and we are ready to welcome brokers to our new Lime Street office.”