Carnovis Specialty, an alternative risk transfer (re)insurance MGA, appoints Alasdair Pennycuick as head of ART accounting. In his new role, Pennycuick leads transaction-specific accounting for alternative risk transfer (ART) structures. He is responsible for portfolio-level reporting and works alongside finance teams across The Fidelis Partnership and Fidelis Insurance Group, as well as external auditors. Pennycuick joins the London-based MGA from Allianz, where he spent more than 12 years in various finance and transaction accounting roles across London, Zurich, New York and Munich. During the last five years of his tenure at Allianz, he managed teams supporting global ART business across the finance and operations value chain. Most recently, he served as regional head of ART deal services in London. Pennycuick holds a degree in economics from the London School of Economics and Political Science (LSE). Carnovis Specialty provides tailored structured solutions on a treaty quota-share, treaty excess-of-loss (XOL), captive XOL and direct XOL basis. Launched in late 2025 as the 16th MGA on The Fidelis Partnership’s Pine Walk platform, the firm underwrites business for the European Economic Area, the UK and international markets on behalf of Fidelis Insurance Group.
