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Seller White Mountains will retain a roughly 15% fully diluted equity stake. -
West Hill Capital is the main investor in the capital raise.
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The business has been ~70% owned by White Mountains since January 2024.
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The firm offered W&I cover with capacity of up to £16mn per transaction.
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The MGA secured a “significant strategic investment” from Zurich earlier this year.
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Kantara now holds a majority stake in the MGA, with the rest held by employees.
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The vehicle will now cover an E&S program jointly launched with Accredited.
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The company will continue its capacity partnership with the MGA until 2030.
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The BP Marsh-backed MGA launched earlier this year, led by Adam Kembrooke.
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This will be Fidelis’ first office in North America and will be led by former Navigators Re head Ivan Vega.
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MGA Amiga Specialty launched in May, with backing from investor BP Marsh.
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The market turn may give some staff pause for thought, but reward remains high.
