Overview

* Fidelis Q2 GPW rises to $1.2 bln, combined ratio at 103.7% due to adverse development

* Net income for Q2 at $19.7 mln, operating net income at $13.6 mln

* Total capital returned to shareholders $99.6 mln, including $88.7 mln in buybacks

Result Drivers

* AVIATION LITIGATION - Adverse development from Russia-Ukraine aviation litigation impacted combined ratio, per CEO Dan Burrows

* PREMIUM GROWTH - GPW increased due to growth in Asset Backed Finance & Portfolio Credit and Political Risk lines

* CAPITAL MANAGEMENT - Continued focus on capital returns with $99.6 mln returned to shareholders, including share buybacks

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Gross $1.20

Premiums bln

Written

Q2 EPS $0.18

Q2 Net $19.70

Income mln

Q2 103.7%

Combined

Ratio

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 5 "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the property & casualty insurance peer group is "buy."

* Wall Street's median 12-month price target for Fidelis Insurance Holdings Ltd ( FIHL ) is $18.00, about 5.6% above its August 12 closing price of $16.99

* The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 6 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)