February 17, 2026

Barings Supports Launch of Pinion Insurance with up to $180 Million Commitment

Barings, one of the world’s leading asset managers, today announced that it is supporting the launch of Pinion Insurance (“Pinion”) with a preferred equity commitment of up to $180 million through its Capital Solutions platform, which invests across the capital structure to deliver tailored solutions. Pinion, a specialty insurance carrier, will provide insurance capacity for Managing General Agents (MGAs) in the US, UK, and Europe and will offer insight into underwriting performance and exposure through proprietary technology.

“We are thrilled to back Pinion’s experienced management team in launching an insurance platform that we believe is positioned to accelerate growth for MGAs through proprietary technology and to drive further innovation in the insurance sector,” said Michael Searles, Head of North America for Barings Capital Solutions. “This strategic investment aligns with our approach to investing in specialty origination engines that can deliver broadly diversified, less correlated returns for our investors, while enhancing our broader Capital Solutions platform.”

“We expect Pinion to be a bridge between high-performing MGAs and capital providers who demand transparency, efficiency, and long-term value, and we are pleased to leverage Barings’ industry know-how and capital commitment as we seek to unlock the full potential of MGAs in a capital-light, tech-enabled world,” Neil McConachie, Co-Founder and Group Chief Executive Officer of Pinion. The company’s management team also includes Co-Founders Philip Vandonick, who serves as Group Chief Underwriting Officer, and Laura Baird, who serves as Group Chief Technology Officer.

This transaction builds on the Capital Solutions team’s deep track record of investing in the Property & Casualty vertical of insurance, which has been one of the group’s largest and most successful industry exposures dating back more than five years.

Barings’ Capital Solutions team originates, underwrites, structures, and prices risk with the intent to provide attractive returns throughout market cycles that are less correlated with traditional debt and equity strategies. The strategy pursues public and private market opportunities across the capital structure, with a focus on secured debt, leveraging the sourcing and structuring expertise of the entire Barings platform globally to develop tailored solutions for counterparties.

Barings was advised by Sidley Austin LLP.

Pinion was advised by Howden Capital Markets & Advisory and Willkie Farr & Gallagher LLP.

About Barings
Barings is a $481+ billion* global asset management firm that partners with institutional, insurance, and intermediary clients, and supports leading businesses with flexible financing solutions. The firm, a subsidiary of MassMutual, seeks to deliver excess returns by leveraging its global scale and capabilities across public and private markets in fixed income, real assets and capital solutions.

*Assets under management as of December 31, 2025

About Pinion Insurance
Pinion Insurance is the strategic partner of choice to Managing General Agents (MGAs) and capital providers. It is a specialty insurance platform that offers capacity for MGAs across the US, UK, and European markets through a fully integrated proprietary technology platform.

Media Contact
MediaRelations@barings.com

26-5218233

Headshot of Michael Searles smiling at the camera.

Michael Searles

Head of North America, Capital Solutions

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