Overview

* Fidelis Q3 gross premiums written grow 7.5% yr/yr

* Combined ratio improves to 79.0% from 87.4% in Q3 2024

* Net income for Q3 was $130.5 mln

Outlook

* Fidelis targets 6-10% growth in gross premiums written for full-year 2025

* Fidelis focused on expanding underwriting partnerships amid rate pressure

Result Drivers

* GROSS PREMIUMS GROWTH - GPW increased by 7.5% yr/yr, driven by new business in Asset Backed Finance & Portfolio Credit line

* UNDERWRITING PERFORMANCE - Combined ratio improved to 79.0% due to favorable prior year loss reserve development and reduced catastrophe losses

* ASSET DEPLOYMENT - Strategic deployment of assets into alternative investments contributed to investment gains

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Gross $797.50

Premiums mln

Written

Q3 EPS $1.24

Q3 Net $130.50

Income mln

Q3 79.00%

Combined

Ratio

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "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 $19.00, about 0.2% below its November 11 closing price of $19.03

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

Press Release:

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(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.)