Fidelis Insurance
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The firm projects losses from the fires at between $160mn-$190mn. -
The Insurance Insider US news team runs you through the earnings results for the day.
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In tandem, it pegged its net cat loss estimate from California wildfires at $160mn-$190mn.
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After one good year, giving back margin now will be “inexcusable”, the executive said.
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The partnership is Fidelis Insurance Group’s first third-party capacity deal.
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Cat losses increased 14.6% to $91.6mn, driven by Hurricane Helene and Storm Boris.
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The executive spent 18 years in various finance roles at Arch.
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The carrier also reported more difficulty than anticipated in realizing the value of collateral following the defaults.
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The Insurance Insider US news team runs you through the earnings results for the day.
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Travelers now holds around 6.2% of Fidelis, down from over 7.2%.
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The shares are being sold by select shareholders in the group.
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Along with D&F, Fidelis is looking to grow in marine construction and aviation.
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