Fidelis to bifurcate into $3bn-premium MGU and $2bn balance sheet
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Fidelis to bifurcate into $3bn-premium MGU and $2bn balance sheet

Fidelis london.jpg

Fidelis has finalised a radical reorganisation in which the business will be separated into a managing general underwriter (MGU) and a balance sheet at a premium valuation that could spark a broader trend of the deconstruction of underwriting businesses.

Insurance Insider revealed that Richard Brindle’s Fidelis was working with Evercore in March to explore a bifurcation of the business as a means of unlocking value, delivering liquidity to founding PE backers and disencumbering underwriting management.

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