Reinsurance News
Fidelis MGU
Fidelis MGU unveils rebranding amid solid 2023 performance
20th March 2024
Fidelis MGU, which will rebrand to "The Fidelis Partnership" on the 28th of March, has revealed gross written premium (GWP) grew by 19% to $3.6 billion in 2023, including 39% growth in its Specialty portfolio. According to the firm, GWP is comprised of 62% Specialty, 20% Bespoke and 18% Reinsurance. Fidelis also ... Read the full article
AM Best amends outlooks to stable for Fidelis and its subsidiaries
23rd February 2024
Rating agency AM Best has revised Fidelis Insurance Holdings Limited and its subsidiaries' outlooks to stable from negative. AM Best explained that the negative outlook it placed on the ratings in 2023 was based on the execution risk related to the creation of Fidelis MGU, a new managing underwriting entity. The ... Read the full article
Fidelis MGU promotes Kevin Adams and Jason Shrubb
9th February 2024
Bermuda-based Managing General Underwriter, Fidelis MGU, has promoted Kevin Adams to Head of US Treaty Production and Jason Shrubb to Head of US Reinsurance. Adams has been with the firm since January 2017, joining as a Senior Underwriter from reinsurance broker Guy Carpenter, where he spent almost three years as a ... Read the full article
Hannah Charnaud becomes Fidelis MGU’s Deputy Head of Marine
5th February 2024
Fidelis MGU has announced the promotion of Hannah Charnaud to Deputy Head of Marine, a London-based role. Charnaud has taken over her new position following her role as a Senior Underwriter for Fidelis Marine business. She joined the firm in 2018 as an Underwriting Assistant and has since then held a ... Read the full article
Fidelis MGU promotes Simon Crone to Group Director of Underwriting
8th January 2024
Fidelis MGU, the Bermuda-based Managing General Underwriter, has promoted Simon Crone to Group Director of Underwriting, a role he will take up alongside his existing position as EEA Chief Underwriting Officer (CUO). An experienced veteran across the insurance sector, Crone joined Fidelis in 2019, taking on the role of a Senior Underwriter. In ... Read the full article
Fidelis MGU and Castlelake create new aviation-focused MGA
12th October 2023
Global, aviation-focused alternative investment manager, Castlelake and Pine Walk, a specialist managing general agent (MGA) platform and wholly owned subsidiary of Fidelis MGU, have announced the creation of a new aviation-focused MGA. Itasca MGA will specialise in underwriting, structuring and managing risk associated with secured commercial aviation financing on behalf of ... Read the full article
Fidelis MGU strengthens underwriting team with key promotions
29th August 2023
Fidelis MGU has bolstered its underwriting team with the promotions of Richard Coulson to Deputy Group CUO, Michael Davern to UK CUO, and Matthew Bellamy to Deputy UK CUO. In addition to his new role as Deputy Group Chief Underwriting Officer (CUO), Richard Coulson is set to remain in his secondary ... Read the full article
Fidelis MGU announces 2030 decarbonisation target
31st July 2023
Fidelis MGU has announced a 2030 decarbonisation target in support of its broader aims, with Richard Brindle, Group Chief Executive Officer and Chairman, describing it as a "meaningful step forward" in the firm's climate change strategy. Fidelis MGU stated that it is committed to reaching net zero Insurance-Associated Emissions (IAEs) by ... 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
100+ underwriters help UNDP insure FSO Safer operation
12th June 2023
More than 100 underwriters have been involved in the successful binding of insurance coverage for the FSO Safer operation, enabling the United Nations (UN) to proceed with an emergency ship-to-ship transfer to avert an oil spill that would amount to one of the world’s largest man-made environmental disasters in history. Led ... Read the full article
Fidelis MGU promotes Beckert & Adams to lead International & US reinsurance
31st May 2023
Fidelis Managing General Underwriter has promoted Nadia Beckert to the Head of International Reinsurance and Kevin Adams to the Head of US Reinsurance. Beckert is a market veteran who has been with Fidelis Insurance for about two years, she served as the Senior Underwriter for the company while having started as ... Read the full article
AXA XL, Fidelis MGU, Chubb among reinsurers facilitating debt conversion for marine conservation
10th May 2023
A group of 11 private insurers are providing more than fifty percent reinsurance to facilitate the largest debt conversion for marine conservation to protect the Galápagos. The reinsurance for the project is provided by AXA XL, Fidelis MGU, Chubb Global Markets, Sovereign Risk Insurance Ltd, Mosaic, and others. It's part of the ... Read the full article
Fidelis MGU hires new Head of HR and expands its Executive Committee
24th April 2023
Fidelis MGU has announced the appointment of Deborah Leen as Head of Human Resources (HR), where she will be based in London and will report to Rinku Patel, Group Chief Operating Officer and CEO of Pine Walk, effective immediately. At the same time, the company also confirmed that Leen will also ... 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
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