Travelers makes strategic investment in Fidelis

The Travelers Companies has made a strategic minority investment in Fidelis Insurance Holdings.

Fidelis is a re/insurance company offering bespoke, reinsurance and specialty coverage lines, which it calls its Three Pillar Model. It also has a fee income business called Socium which supports these three pillars.

Fidelis said its three pillar model provides it with diversified income streams which allow it to target profitable opportunities throughout the insurance cycle.

Hinal Patel, group chief financial officer at Fidelis, said: “Travelers and Fidelis are leaders in their fields, with proven track records in our respective markets. We believe that there will be opportunities to learn from each other and work together.”

Fidelis was advised by TigerRisk Capital Markets & Advisory and Willkie Farr & Gallagher.