Fidelis UW gain up 7% to $80mn in Q3 as CR worsens 200bps on higher cats, lower PPD

Published: Tue 12 Nov 2024

Fidelis Insurance Group’s third quarter underwriting gain grew by 7 percent to $80mn, powered by a 24 percent surge in net earned premiums, as higher catastrophe losses and lower favourable reserve development pushed its combined ratio up 200 basis points (bps) to 87.4 percent.