Fidelis looks to list on NYSE

Bermuda-based re/insurer Fidelis Insurance Holdings has filed a preliminary IPO prospectus with the US Securities and Exchange Commission (SEC).

The company intends to list its common shares on the New York Stock Exchange (NYSE) under the symbol FIHL.

The move follows the submission of a draft registration with SEC in March in the wake of its business split. Fidelis created a new managing general underwriter (MGU), led by Richard Brindle, separate from its existing balance sheet insurance companies.

The company said its strategy involves expanding its presence in bespoke and specialty lines, generating underwriting profits and maintaining diversification and low volatility.

Fidelis intends to use the proceeds from the IPO to make capital contributions to its operating insurance subsidiaries in order to grow our business. The remainder will be used for general corporate purposes.