Fidelis posts strongest results since listing
Bermuda-based specialty re/insurer Fidelis has delivered its strongest quarter since going public, cutting its combined ratio to 79.0% from 87.4% in the prior-year period.
Q3 net income increased to $130.5 million, up from $100.6 million in the same quarter 2024, which could be attributed to a quiet catastrophe quarter with losses of $57.4 million compared with $91.6 million in the prior-year period.
Gross premiums written also saw growth from $741.9 million in Q3 2024 to $797.5 million in Q3 2025, with the reinsurance segment carrying the largest increase at $32.2 billion.
Fidelis group CEO Dan Burrows (pictured) said: “We delivered outstanding results in the third quarter.
“We grew gross premiums written by 8%, reinforcing our confidence in our target range of 6-10% for the full-year. In a prevailing hard market, we remain well positioned for growth and value creation given our differentiated positioning and diverse risk access, particularly as we continue to expand our network of underwriting partnerships.
“Across our portfolio, we are focused on margin and exercising strong discipline with respect to rate, terms and conditions as we see signs of rate pressure in certain pockets.
“Looking ahead, we are focused on providing solutions for our clients in an evolving risk landscape. Our strong capital position enables us to successfully balance growth with returning excess capital to shareholders, and we continue to see share repurchases as a highly accretive use of capital."
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