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Fidelis is a leading specialty, bespoke and (re)insurance business built on a 35 year track record of outperformance that continues to beat the market in terms of its underwriting and returns.

Our winning model in a changing market

Product innovation driven by superior underwriting, flexible capital allocation and efficient platform driving ROE outperformance.

1. CAGR = Compound annual growth rate;
2. Excluding the premium paid on preferred share repurchases and warrant expense;
3. Calculated as the total loss, acquisition and admin expenses incurred, excluding stock compensation, over total net earned premiums earned;
4. ROE is calculated as the change in diluted book value per share over the opening diluted book value per share adjusted for common dividends and excludes the impact on equity and dilution of all extraordinary capital transactions, including capital raises, the premium paid associated with preference share repurchases and payments to minority shareholders. The ROE calculation excludes the premium on preferred share repurchases of $25.3 million and the additional dilution of stock awards due to the capital transactions.
5. Steady state is when the ratio of net earned premium to net written premium is equal to approximately 90% (on a 12-month rolling year basis), which we expect to achieve in 2023. 
6. Number of employees as at 31/12/20

Source: Company information

We have a unique and highly profitable underwriting business

Fidelis has developed a thoughtful and profitable business model through a combination of underwriting excellence, flexible capital allocation and efficiency, driven by an outstanding management team and is well positioned to take advantage of favourable conditions across its core markets.

Underwriting excellence

Fidelis has a disciplined and creative underwriting culture with a focus on delivering superior solutions for clients.

  • Disciplined Underwriting approach
  • Superior solutions for clients
  • Creativity in bringing new products to market
  • Allocating Risk & Capital between own & third party balance sheets for optimised risk/return

 

Unique and rigorous risk selection process

Fidelis employs a suite of robust underwriting controls, including a Daily Underwriting and Marketing Conference Call (UMCC) to ensure superior underwriting, provide live market insights and help the business to react quickly to emerging opportunities.

Superior Market Access

Relevance in our pillar strategy, reputation and multi-decade relationships driving lead roles.

Best in class systems and technology

State-of-the-Art underwriting, aggregation and risk management platforms provide Fidelis with a strong competitive advantage in data manipulation and real-time processing.

The best team in the market

The Fidelis Executive management team brings together 200+ years of cumulative experience in broking, underwriting, corporate and actuarial roles, as well as long-term client and broker relationships and a proven track-record aligned with prior experience of working together.

With an attractive growth outlook

Fidelis is uniquely positioned to take advantage of favourable market conditions. Fidelis has a clear strategy to deploy further growth focusing on all our bespoke, specialty and reinsurance classes. ROE is expected to build materially as Fidelis ramps up to a steady state, rate increases in the hard market, Socium income grows and operating leverage increases.

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