What We Do
Pernix is dedicated to enabling and supporting responsible and tangible investment and finance through the provision of Political Risk and Non-Payment insurance.
A core part of Pernix’s portfolio will be devoted to facilitating and aiding the dual energy and technological transitions taking place in our societies today.
Non-Payment
Covers the insured against non-payment or non-performance by a named obligor of a legally enforceable payment obligation for any reason whatsoever, but usually arising from default or insolvency.
Political Risks
Covers the insured against losses arising or non-payment (lenders form) due to named political risk perils. We also cover various political violence perils on a selective basis and only as part of a wider political risk package.
About Us
Pernix is the formation of a Political and Non-Payment Risk MGA, under management at Pine Walk Capital.
Pernix is co-founded by Kade Spears (CEO), Caroline Coulson (CUO), and Mark Grimson (Head Analyst), bringing 55 years’ combined Political and Non-Payment Risk experience into the Fidelis Group.
Kade Spears
CEO & Director
Kade has 20 years’ experience in underwriting specialty insurance lines. Most recently, Kade was SCOR’s global line head for political and non-payment risks. He founded this team in 2013 and was named head of the syndicate’s specialty division in 2014. Kade was previously the head of the political and non-payment risks team at Aspen and started his career at Catlin. He holds an MA in International Relations and BSc in Business Administration.
Caroline Coulson
CUO
Caroline has over 20 years’ experience in the political and credit risk insurance and analytics space. Caroline began her underwriting career with Sovereign Risk Insurance in Bermuda, part of Chubb, before moving back to London where she spent 18 months as a senior analyst with Aegis Intelligence. Caroline then spent 10 years as a senior underwriter at Lancashire before joining SCOR Specialty Insurance’s Political and Credit Risks team in 2020. Caroline has BSc in Marketing and Business Management and is a volunteer and ambassador for SHOUT, a mental health charity.
Mark Grimson
Head Analyst
Mark has over 20 years’ experience analysing risks and building models for political and non-payment risks. He worked in commercial banking then private equity covering real estate and project finance, including being on the board of directors for a number of project companies. He then worked at the rating agency S&P before joining SCOR’s political and non-payment risks team. Mark is a Chartered Financial Analyst, a Chartered Alternative Investment Analyst, and a Certified Financial Risk Manager.
Hannah Vernon
Underwriter
Hannah has over 8 years’ experience in the credit and political risk insurance market. She began her career at Willis Towers Watson specialising in excess of loss trade credit broking before joining the Political and Credit Risk underwriting team at SCOR in 2019. Hannah has a BSc in Geography and is ACII qualified.
Emma Chell
Assistant Underwriter
Emma joined Pernix at the end of 2022 as Operations Analyst and was promoted to Assistant Underwriter in 2024. Emma has completed her Graduate Diploma in Law with Distinction and holds a BA in Classics from the University of Newcastle. Her previous experience involves working at a start-up in the City.
