Fidelis Insurance Holdings Ltd. ( (FIHL) ) has released its Q4 earnings. Here is a breakdown of the information Fidelis Insurance Holdings Ltd. presented to its investors.
Fidelis Insurance Holdings Ltd. is a global specialty insurer based in Bermuda, known for offering innovative and tailored insurance solutions through strategic partnerships. The company operates in the insurance and reinsurance sectors, leveraging a diversified portfolio to navigate evolving market conditions.
In its 2024 earnings report, Fidelis Insurance Holdings Ltd. reported a significant increase in gross premiums written, totaling $4.4 billion for the year, marking a 23% growth compared to 2023. Despite this growth, the company faced challenges in the fourth quarter, resulting in a net loss of $122.2 million.
Key financial metrics from the report include a combined ratio of 99.7% for the year, indicating a near break-even point in underwriting profitability. The company’s net income for the year was $113.3 million, with an operating return on average common equity of 5.6%. However, the fourth quarter was impacted by a high combined ratio of 128.0% and significant catastrophe and large losses amounting to $133.2 million.
Fidelis also highlighted strategic capital management initiatives, returning $151.7 million to shareholders through dividends and share repurchases. The company remains optimistic about future growth, emphasizing its strong market access and proactive risk management strategies.
Looking ahead, Fidelis Insurance Holdings Ltd. aims to leverage its expertise and strategic relationships to drive profitable growth, despite the challenges posed by market volatility and catastrophic events. The management remains focused on delivering sustainable value to shareholders by capitalizing on growth opportunities and maintaining a robust balance sheet.