Fidelis Insurance Holdings Announces Proposed IPO By Investing.com

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Fidelis Insurance Holdings Announces Proposed IPO

Published Jun 09, 2023 16:40

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Fidelis Insurance Holdings Announces Proposed IPO

Fidelis Insurance Holdings (FIHL) has filed for a proposed IPO.

The company describes itself as: "Fidelis is a global (re)insurance company, with operations in Bermuda, Ireland and the United Kingdom. FIHL was formed in Bermuda in 2014 by Richard Brindle, under the principles of focused, process-driven and disciplined underwriting and risk selection, strong client and broker relationships and nimble capital deployment. Fidelis completed its initial funding and began underwriting business in June 2015 under the direction of an experienced management team led by Richard Brindle. Since then, Fidelis has assembled a diversified global book of (re)insurance business and achieved scale as a specialty (re)insurer with GPW of $3.0 billion, total revenues of $1.5 billion and net income of $62.3 million for the year ended December 31, 2022. Our growth has continued in 2023, with our GPW increasing to $1.2 billion in the three months ended March 31, 2023 compared to $1.0 billion for the three months ended March 31, 2022. "

J.P. Morgan, Barclays and Jefferies will serve as lead underwriters.

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