Fidelis Insurance Group
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The syndicate will be Asta managed and have capacity from Hampden Names. -
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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The upgrade noted consistent underwriting gains and investment returns, and a CoR below peers.
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SEC filings show that Travelers’ equity ownership was valued at over $107mn in Q4.
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The senior energy underwriter exited amid a strategic pivot at the MGA.
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The Fidelis underwriting unit’s Paul Calnan and Danny Joyce are set to depart.
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John Symms had been at the firm since 2020 and previously worked at Talbot.
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