Fidelis

Fidelis’ AM Best rating placed under review on MGU plan

AM Best has placed under review with negative implications Fidelis’ A (Excellent) financial strength rating and “a” issuer credit ratings, with the rating agency concerned the London-Bermuda group’s intention to create Fidelis MGU may affect its business profile because of the separation of key management personnel.

London market to bear brunt of $75mn Fujing 001 hull loss

London carriers – including Convex and Fidelis – are expecting a claim of $75mn for the hull cover of the Fujing 001, which sank in the South China Sea last week, The Insurer understands.

Fidelis’ Pine Walk launches Pernix Specialty as seventh MGA

Fidelis’ MGA platform Pine Walk has launched Pernix Specialty as its seventh underwriting cell, led by former Scor duo Kade Spears and Caroline Coulson.

Fidelis names Herget deputy group head of D&F property

Bermuda-based Fidelis Insurance has promoted Mark Herget to the position of deputy group head of direct and facultative (D&F) property.

Fidelis’ Pine Walk platform launches OPEnergy MGA

Fidelis’ MGA platform Pine Walk has launched its sixth underwriting cell, OpEnergy Limited, led by former Catlin, Zurich and Berkshire Hathaway underwriter Oliver Brown.

Fidelis names Jarvis deputy director of underwriting

Fidelis Insurance has promoted Louise Jarvis to the position of deputy director of underwriting in addition to her current role of group head of contract wordings.

Fidelis names Stewart and Davern as co-deputy CUOs of UK platform

Fidelis Insurance has promoted Kayley Stewart and Michael Davern to co-deputy chief underwriting officers (CUO) of Fidelis Underwriting Limited (FUL).

Fidelis hires market veteran Russell from Lancashire as marine head

Fidelis Insurance has continued its recent marine expansion drive with the hire of Paul Russell from Lancashire as its new group head of marine.

Fidelis unveils new London trading floor

Fidelis Insurance Holdings has today opened a new London trading floor to enable brokers swift access to its underwriters.

Fidelis renews quota share with Berkshire Hathaway

Bermuda-based Fidelis Insurance has renewed its 20 percent whole account quota share with Berkshire Hathaway for 2022, with group CEO and chairman Richard Brindle emphasising the need for pricing to “reflect the real impacts” of climate change and exposure growth.

Fidelis hires Agora’s Ray as reinsurance underwriter

Fidelis Insurance has appointed Jordan Ray as a reinsurance underwriter.

Fidelis names Mathias group director of underwriting as Murfet takes on CRO role

Fidelis has named Phillip Murfet group chief risk officer, replacing Charles Mathias who has been appointed to the newly created role of group director of underwriting.

Fidelis investment not a reinsurance play for Travelers

Travelers has opened up on the reasoning behind its minority investment in Fidelis, noting that the Bermuda-based (re)insurer’s strength in niche specialty E&S lines would offer new insights for the US insurance giant, but dismissing ideas that the deal marks a shift in focus towards reinsurance.

Travelers takes minority stake in Fidelis

US insurer Travelers has made an undisclosed minority investment in Fidelis, marking the latest capital injection at the Richard Brindle-led carrier.

Fidelis triples target for latest Herbie Re cat bond to $150mn

Fidelis has tripled the target size for its latest Herbie Re catastrophe bond to $150mn as it continues to strengthen its capital base and advance its strategy of originating business in partnership with third-party investors, The Insurer understands.

Fidelis and Convex increase space capacity helping offset AIG’s withdrawal

Fidelis and Convex have scaled up their space/satellite capacity for 2021, helping offset the impact of the withdrawal of AIG last November.

Fidelis to name Socium head Philip Vandoninck as Bermuda CEO

The fast-expanding Fidelis is poised to promote Philip Vandoninck, the head of its third-party capital unit Socium, to head of its Bermuda operations as part of a broader strategy to simplify its group structure as the Richard Brindle-led firm accelerates growth into the hardening markets conditions.

Fidelis commits to Monte Carlo Rendez-Vous as it strikes bullish 2021 stance

Fidelis has become the first Bermuda-domiciled carrier to publicly commit to attending this year’s Monte Carlo Rendez-Vous if the totemic industry event takes place in September.

Fidelis posts 79% combined ratio in 2020 despite doubling top line

Richard Brindle’s Fidelis defied the Covid-19 pandemic and 2020’s roll call of attritional catastrophes to post a combined ratio of only 79 percent despite effectively doubling its gross written premium to $1.58bn.

Convex, Fidelis and OdysseyRe join panel for trimmed NFIP reinsurance placement

Convex, Fidelis and OdysseyRe have joined the panel of carriers on the National Flood Insurance Program’s traditional reinsurance placement, which has a record 32 participants for the year ahead but sees a 13 percent reduction in limit placed compared with the expiring cover.

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