Reinsurance News
Fidelis Insurance
Travelers renews quota share arrangement with Fidelis for 2024
19th January 2024
US insurer Travelers has renewed its quota share arrangement with Bermuda based re/insurer Fidelis Insurance, as market conditions remain attractive in the segments where this partnership had been targeted, according to the firms CFO. Speaking just now during Travelers fourth-quarter 2023 earnings call, CFO Dan Frey revealed that the Fidelis quota ... Read the full article
Fidelis “well placed” to pursue market opportunities: CEO Burrows
21st December 2023
Fidelis Insurance Group's Chief Executive Officer Dan Burrows has suggested the firm is "well placed" to pursue the significant opportunities it sees ahead in the market. The firm's Board of Directors have thus approved the adoption of a common share repurchase program of up to $50 million of its common shares. “Our ... Read the full article
Fidelis Insurance welcomes Miranda Hunter as Head of Investor Relations
4th December 2023
Bermuda-domiciled re/insurer Fidelis Insurance Holdings Limited has announced the appointment of Miranda Hunter as Head of Investor Relations. Hunter brings to her new role over 15 years of re/insurance and financial industry experience, having held senior roles at various global firms. “Fidelis is confident that Ms. Hunter's extensive experience and strategic acumen ... Read the full article
Fidelis sees 9M underwriting income soar as combined ratio improves to 82.4%
21st November 2023
Fidelis Insurance Group has reported that underwriting income for the 9M ended September 30, 2023, was $232.9 million, with a combined ratio of 82.4%, much improved compared to an underwriting loss of $17.2 million and a combined ratio of 101.6% for the same period last year. Fidelis' net income available to ... Read the full article
Fidelis Insurance appoints two new members to its Board
31st October 2023
Bermuda-domiciled re/insurer Fidelis Insurance Holdings Limited has appointed Christine Dandridge and Matthew J. Adams to its Board of Directors, effective October 25th, 2023. With these appointments, the Fidelis Board of Directors now consists of eleven directors. Helena Morrissey, Chair of the FIHL Board of Directors, commented: "The Board of Directors of FIHL ... Read the full article
Fidelis to raise up to $241.5m from IPO, as shares price below marketed range
29th June 2023
Reflecting challenging market conditions for any company attempting an initial public offering (IPO) of its shares at this time, global insurance and reinsurance player Fidelis Insurance Holdings Limited has priced its IPO well below the marketed guidance range, now looking set to raise up to $241.5 million. In addition, the company ... Read the full article
Fidelis confirms IPO as it looks to take advantage of rate hardening
20th June 2023
Bermuda-based insurance and reinsurance holding company, Fidelis Insurance Holdings Limited, has announced the launch of its initial public offering (IPO) of 17 million of its common shares, as the firm looks to "take advantage of the ongoing rate hardening" in key markets. The offering announced by Fidelis includes 5,714,286 of common ... Read the full article
Fidelis appoints new Chief of Staff
15th June 2023
Hannah Greenwood, previously of Inver Re, has been appointed as the Chief of Staff at Fidelis Insurance Group, effective immediately. Prior to this, she served as a Business Manager at Inver Re for almost two years. She started working here following the acquisition of Corant Global by the Ardonagh Group, the ... Read the full article
Fidelis files preliminary IPO at undisclosed price
17th April 2023
Fidelis Insurance Holdings Limited, a Bermuda-based insurance and reinsurance holding company, has now filed a preliminary IPO prospectus with the U.S. Securities and Exchange Commission (SEC) as it looks to list its common shares on the New York Stock Exchange (NYSE). Back in January, Fidelis completed the creation of a ... Read the full article
Fidelis confirms IPO submission after MGU split
2nd March 2023
Bermuda-based insurance and reinsurance holding company, Fidelis Insurance Holdings Limited, has confirmed that it intends to pursue an initial public offering of its common shares, following the establishment of Fidelis MGU last month. The recent creation of the new managing general underwriter ‘bifurcated’ the business from Fidelis’ existing balance sheet ... Read the full article
Fidelis completes MGU and balance sheet split
4th January 2023
Bermuda-based insurance and reinsurance holding company, Fidelis Insurance Holdings Limited, has completed its transaction to create a new managing general underwriter (MGU) separate from its existing balance sheet insurance companies. The deal was approved by regulators back in November and became effective as of January 3rd. Fidelis MGU will be located ... Read the full article
Fidelis promotes Charles Mathias to Deputy Chairman
15th December 2022
Bermuda-based insurance and reinsurance holding company Fidelis Insurance has announced a series of senior promotions, including the appointment of Charles Mathias as Deputy Chairman. Mathias was most recently Director of Underwriting, having started at the company in the role of Chief Risk Officer. He has nearly four decades of broking and ... Read the full article
Fidelis gets regulatory green light for MGU launch
28th November 2022
Bermuda-based insurance and reinsurance holding company, Fidelis Insurance Holdings Limited, has received regulatory approval from all relevant regulators to create a new Managing General Underwriter (Fidelis MGU), separate from its existing balance sheet insurance companies. Approvals or non-objections have now been received from the FCA and PRA in the UK, CBI ... Read the full article
Fidelis beefs up underwriting principles around sustainability
22nd September 2022
Fidelis has said that it is to extend its underwriting guidelines as part of its commitment to sustainability. The firm said that its new guidelines will cover both environmental and social topics under four ‘umbrella’ guidelines covering Environmental, Human and Labour Rights, Animal Welfare, and Rule of Law, in addition to ... Read the full article
Fidelis underwriting separation will limit its competitive position in the market: S&P
10th August 2022
Following the announcement that Bermuda-based re/insurer Fidelis will delegate its underwriting authority to newly created Fidelis Managing General Underwriter (Fidelis MGU), S&P Global Ratings has revised the re/insurer outlook to stable from positive. As Fidelis is delegating all its underwriting to Fidelis MGU and that Fidelis Balance Sheet Companies will exclusively ... Read the full article
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