Core Viewpoint - The Fidelis Partnership has launched Carnovis, an alternative risk transfer managing general agent (MGA), which will begin underwriting in December and provide structured reinsurance solutions to clients [1][5]. Group 1: Company Overview - Carnovis is set to offer a variety of excess-of-loss solutions, including treaty, captive, and direct lines, as well as quota-share solutions for Treaty clients [1]. - The company will be led by Grant Maxwell, who has over 26 years of experience in alternative risk transfer and previously served as global head of alternative risk transfer at Allianz Commercial [3]. - Carnovis is the 16th MGA under Pine Walk, which was established in 2017 to support specialist underwriting teams [4]. Group 2: Market Strategy - Carnovis aims to write an international portfolio that includes exposures in the US, UK, Europe, Asia-Pacific, and Latin America [2]. - The target client base consists of reinsurers, multinational companies, their captives, and smaller firms looking to manage risk across various insurance classes [2]. - There is a growing demand for structured solutions that connect traditional reinsurance with capital markets, indicating a shift in client expectations towards long-term, partnership-based relationships [3][4]. Group 3: Financial Projections - Pine Walk anticipates its gross written premium to exceed $1.2 billion in 2025, an increase from $900 million in 2024 [5].