New MGA will focus on Latin American and Caribbean treaty markets as group establishes first US presence
The Fidelis Partnership has launched a new MGA, Imala Re, through its Pine Walk platform, alongside the opening of a Miami office that will serve as the MGA’s headquarters and mark the group’s first location in North America.
Imala Re will write an international portfolio of property, motor and marine treaty reinsurance, with a focus on Latin American and Caribbean clients.
The MGA will provide catastrophe and risk excess of loss as well as quota share solutions, serving both locally domiciled cedants and a select number of multinational groups.
The new business will be led by Ivan Vega as chief executive and chief underwriter.
Vega has more than 30 years’ experience in reinsurance, most recently as head of Latin America and Caribbean at Navigators Re, where he developed its treaty portfolio. He previously spent eight years at White Mountains Capital as head of property facultative for the same region.
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 third 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. Ivan’s longstanding experience and deep network make him well placed to lead this new offering, and we look forward to him building out the team to support its growth plans.”
Vega said the MGA aims to bring a differentiated approach to clients in the region.
“There is strong and increasing demand from clients in Latin America and Caribbean for underwriters that can bring a differentiated approach and show the leadership needed to tackle increasingly complex and interconnected risks,” he said.
“Pine Walk is the perfect platform from which to launch Imala Re, allowing us to bring to market a compelling new MGA while benefiting from the reputation, insights and expertise of The Fidelis Partnership.”
Charles Mathias, deputy chairman of the Fidelis Partnership, added: “Ivan and I have known each other for over thirty years and have worked together before. He has a great reputation in the market for his understanding, relationships and experience, all of which will ensure the success of Imala Re. As part of TFP’s overall BRICS strategy to expand our business around the world, this reinforces our commitment to local access and knowledge.”
Founded in 2017, Pine Walk now supports 14 active MGAs and expects its gross written premium to exceed $1.2bn this year, up from $0.9bn in 2024.
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