Fidelis has taken an equity stake in a new energy-focused manging general agency (MGA) Kersey Specialty, which will be run by Paul Calnan.

Kersey will focus on upstream energy subscription market insurance and will be managed through Pine Walk Capital, Fidelis’ subsidiary MGA platform.

Fidelis will be providing underwriting capacity to the MGA.

Calnan joins from Ironshore, where he most recently led the carrier’s international offshore energy expansion. He began his career at Lloyd’s in 1988 with Octavian Underwriting and subsequently developed upstream accounts at Navigators, CV Starr before moving to Ironshore.

Philip Vandoninck, executive head of partnerships, said “Paul brings extensive knowledge and experience of the energy market, including operational, construction and casualty. 

“Paul’s excellent underwriting track record comes with strong reinsurance support and Fidelis is pleased to collaborate with Paul’s historical relationships. We are pleased to support this new MGA and welcome Paul to the Pine Walk group.”

Calnan added: “I am delighted to be partnering with Fidelis and Pine Walk in creating this new MGA. Our proposition is to provide thoughtful and comprehensive solutions that are appropriate to the genuine needs and wishes of buyers. We look forward to providing a flexible, consistent and prompt service to all of our customers.”

Fidelis launched its MGA incubator Pine Walk towards the end of 2017. There are now four MGAs running on the platform, Radius, Oakside, Aware and Kersey.