Fidelis Insurance Group
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Syndicate 3123’s opening is “the largest-ever launch of a Names-sponsored syndicate in Lloyd’s”.
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The shares are being sold by select shareholders in the group.
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Along with D&F, Fidelis is looking to grow in marine construction and aviation.
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The company’s results come less than two months after announcing its Lloyd’s syndicate.
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Lloyd’s gains leadership, and The Fidelis Partnership gets capital diversification.
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The syndicate will be Asta managed and have capacity from Hampden Names.
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The exit comes after Fidelis restructured into two separate firms.
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The MGU is exploring additional third-party capital relationships.
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The underwriter was overseeing MGA Kersey Specialty’s pivot to renewables.
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The firm’s growth focus for 2024 will be in property D&F.
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The (re)insurer’s Q4 CoR rose 15.2 points to 81.4% on satellite failure, D&F losses.
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Losses were driven by the Viasat-3 satellite failure, the Sudan conflict and D&F events.
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