Pine Walk Capital Ltd., the specialist MGA platform and wholly owned subsidiary of The Fidelis Partnership (TFP), announced the launch of Arenite Specialty to write surety and credit risk insurance.
Initially focused on Australia, Asia Pacific and Latin America, the new MGA will be led by Teji Gobran as CEO. Gobran was most recently managing director of specialist surety underwriter BILD and before that managing director at Volante Global.
Gobran will be joined by Jarbas Coimbra as head of Surety and by Stephen Olman as head of Credit. Olman was previously at Helia (formerly Genworth) as director of Reinsurance and Structured Transactions. Coimbra was previous at Arch Reinsurance Brazil as director.
Arenite will be headquartered in London but will build out in-market teams to be based in relevant territories.
Founded in 2017, Pine Walk has now signed 16 MGAs and provides custom underwriting, operational and regulatory frameworks to support specialist and innovative underwriting offerings. Pine Walk’s GWP rose to over $1.2 billion in 2025, up from $900 million in 2024.
“We are delighted to launch Arenite as Pine Walk’s 13th MGA. Arenite aligns with our strategy to incubate high-quality MGAs that bring valuable diversity by both product and geography,” commented Nigel Lee, chief operating officer, Pine Walk.
“Surety and structured credit are products that TFP has a deep understanding of, and we’re excited by the opportunity Arenite has to build out a unique offering for Australia, Latin America, and Asia Pacific,” Lee added.
“The Fidelis Partnership has established an enviable track-record in the surety and structured credit market, with a strong reputation for being nimble, innovative and solution oriented. Pine Walk is therefore a natural home for Arenite,” according to Gobran. “Collectively, our team has deep knowledge of the Australian, Latin American and Asia Pacific markets and we see huge potential for this new offering. We look forward to working with the Pine Walk and TFP teams as we bring Arenite to market.”
About The Fidelis Partnership
The Fidelis Partnership is a privately owned, Bermuda-headquartered managing general underwriter, which, through its subsidiaries, is a global underwriter of property, bespoke and specialty insurance and reinsurance products. The Fidelis Partnership also sponsors and incubates specialist MGAs through its Pine Walk Capital platform, which enables entrepreneurial underwriters to set up their own specialist MGAs.
Source: The Fidelis Partnership
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