Fidelis Insurance Group
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The carrier also reported more difficulty than anticipated in realizing the value of collateral following the defaults. -
The losses were driven by events in property D&F, particularly tornadoes.
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It will be led by Valeria Del Villano, who was head of international renewables at AIG.
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The firm has hired from Probitas, Tamesis Dual and Aegis for the cells.
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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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