Reinsurance News
Fidelis
The Fidelis Partnership to lead new Lloyd’s Syndicate 3123
28th March 2024
The Fidelis Partnership, formerly known as Fidelis MGU, has confirmed that Lloyd’s has granted “in principle” approval for the launch of Syndicate 3123 in collaboration with Fidelis Insurance Holdings Limited (Fidelis Insurance Group), a global specialty insurer, and Hampden Agencies, the largest provider of private capital to Lloyd’s. At the ... Read the full article
James Dumelow appointed Corporate Communications Director at Fidelis Insurance
9th February 2024
Fidelis Insurance Holdings Limited, the Bermuda-domiciled re/insurer, has hired James Dumelow as Corporate Communications Director, where he will report to Miranda Hunter, Head of Investor Relations. He joins the re/insurer with nearly 15 years of industry experience helping companies develop and implement group wide communications and marketing strategies. In his most recent ... Read the full article
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 H1 GWP grow 27% to $2.2bn as combined ratios drops to 80.6%
23rd August 2023
In its 2023 H1 results, Fidelis Insurance Group reported gross premiums written of $2.2 billion, marking a growth of 27% from H1 last year, while the combined ratio also improved to 80.6%. For Q2 alone, Fidelis said that gross premiums written grew 25.3% to $957.2 million, while the combined ratio was ... Read the full article
Fidelis raises $89.4 million following closing of IPO
4th July 2023
Fidelis Insurance Holdings Limited has announced the closing of its initial public offering of an aggregate of 15,000,000 common shares at a price to the public of $14.00 per share, generating estimated net proceeds of $89.4 million. According to Fidelis, this included 7,142,857 common shares sold by the Company and 7,857,143 ... 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 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 reports increased GWP & improved combined ratio in 2022
11th April 2023
In its 2022 full year results, Bermuda-based Fidelis Insurance Holdings Limited has reported that gross written premiums (GWP) increased to $3 billion compared to 2.78 billion in 2021, while the firm's combined ratio improved to 92.1% from 92.9%. Of the GWP total in 2022, $1.61 billion was made up of speciality ... 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
AM Best affirms Fidelis ratings following separation from MGU
6th February 2023
AM Best has removed from under review with negative implications and affirmed the credit ratings of Fidelis Insurance Holdings Limited and its subsidiaries. AM Best has removed from under review with negative implications and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of ... Read the full article
Travelers’ investment in Fidelis includes quota share arrangement
24th January 2023
US primary insurer Travelers has disclosed that its investment in Fidelis includes a 20% quota share arrangement, which its management says will allow the firm to "participate in the hard market." Travelers made a strategic minority investment in Bermudian re/insurer Fidelis in July of 2021, which came into effect on ... Read the full article