Fidelis Insurance Holdings, a global provider of specialty insurance and property reinsurance, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
Fidelis provides specialty insurance and property reinsurance, with operations in Bermuda, Ireland, and the UK. The company completed its initial funding and began underwriting business in 2015. In January 2023, Fidelis' operations were split into two distinct holding companies: FIHL, Current Fidelis' parent, and MGU HoldCo, the holding company for the managing general underwriting platform that carries on Current Fidelis' origination and underwriting activities.
The Pembroke, Bermuda-based company was founded in 2014 and booked $1.5 billion in revenue for the 12 months ended December 31, 2022. It plans to list on the NYSE under the symbol FIHL. J.P. Morgan, Barclays, and Jefferies are the joint bookrunners on the deal. No pricing terms were disclosed.
