Fidelis Insurance Holdings Stock Price, News & Analysis

Fidelis Insurance Holdings (NYSE:FIHL), a global specialty insurer, has announced a quarterly dividend payment of $0.10 per common share. The dividend will be paid on December 20, 2024, to shareholders who are on record as of November 29, 2024. This announcement follows the approval and declaration by the company's Board of Directors.

Fidelis Insurance Holdings (NYSE:FIHL), a global specialty insurer, has announced its plans to release financial results for the third quarter ended September 30, 2024. The results will be made public on November 12, 2024, after the financial markets close. Investors can access these documents through the company's website.

Following the release, Dan Burrows, Group Chief Executive Officer, and Allan Decleir, Group Chief Financial Officer, will host an investor teleconference on November 13, 2024, at 9:00 a.m. ET. The call will include a discussion of the third quarter results and related matters, followed by a question-and-answer session. Interested parties can join the teleconference using the provided dial-in numbers and passcode. Additionally, a live, listen-only webcast will be available on the company's investor relations website.

Fidelis Insurance Group (NYSE: FIHL) announced its 2024 Q2 results with gross premiums written of $1.2 billion, a 24.7% increase year-over-year. The combined ratio was 92.7%, and net income stood at $53.7 million ($0.46 per diluted share). Operating net income was $63.0 million ($0.54 per share).

For the first half of 2024, gross premiums reached $2.7 billion, growing 22.9% from the first half of 2023. Net income amounted to $134.9 million ($1.14 per share), and operating net income was $150.2 million ($1.27 per share). The combined ratio was 89.3%.

The company repurchased 1,932,418 shares for $33.7 million in Q2 and 2,290,020 shares for $38.7 million in H1. A new share repurchase program of $200 million was approved.

Net investment income for Q2 was $46.0 million, up from $27.3 million in the prior year. Operating ROE for the quarter was 10.0% annualized. The book value per share was $21.71 as of June 30, 2024.

Fidelis Insurance Holdings (NYSE:FIHL), a global specialty insurer, has announced two significant developments. Firstly, the Board of Directors has declared a quarterly dividend of $0.10 per share, payable on September 30, 2024, to shareholders of record on September 16, 2024. Secondly, the Board has approved a new share repurchase program authorizing the company to buy back up to $200 million of its shares.

The repurchase program allows for various methods of share buybacks, including open market purchases, accelerated share repurchases, and privately negotiated transactions. The timing and volume of repurchases will be at the company's discretion, based on factors such as intrinsic value assessment, market conditions, and available liquidity. The program can be suspended or discontinued at any time by the Board of Directors.

The Fidelis Partnership Syndicate 3123, in collaboration with Fidelis Insurance Group and Hampden Agencies, has commenced underwriting business at Lloyd's. This marks the return of Richard Brindle, CEO, to Lloyd's after 26 years. The syndicate aims to write $180 million of Gross Written Premium in H2 2024 and $450 million in 2025, covering various insurance classes such as property catastrophe, political violence, marine, and aviation. The launch represents the largest Names-sponsored syndicate in Lloyd's history, aiming to leverage Lloyd's global licenses and capital structure. Key leaders, including Brindle and Daniel O'Connell, emphasize strategic growth and expanded market reach.

Fidelis Insurance Holdings (NYSE:FIHL), a global specialty insurer, will release its second quarter financial results for the period ending June 30, 2024, on August 14, 2024, after the market closes. The results will be available on the company's investor website. On August 15, 2024, at 9:00 a.m. ET, CEO Dan Burrows and CFO Allan Decleir will host an investor teleconference to discuss these results and answer questions. The call can be accessed by dialing specific numbers for U.S. and international callers or through a live webcast on the company's website.

Fidelis Insurance Group (NYSE: FIHL) announced the successful closing of its secondary public offering of 9,000,000 common shares at $16.00 per share, sold by certain shareholders. The underwriters fully exercised their option to purchase an additional 1,350,000 shares, also at $16.00 each, after accounting for underwriting discounts and commissions. Prominent firms such as Barclays, J.P. Morgan, and Goldman Sachs led the offering, supported by other major financial institutions like Evercore ISI and Citigroup.

The offering’s registration statement was declared effective by the SEC on May 22, 2024, with the prospectus available on the SEC website. This transaction does not constitute an offer to sell or buy these common shares in any jurisdiction where such transactions are illegal before registration or qualification under applicable laws.

Fidelis Insurance Group (NYSE: FIHL) announced the pricing of a secondary public offering of 9,000,000 common shares at $16.00 per share by existing shareholders. The underwriters have a 30-day option to purchase an additional 1,350,000 shares. Fidelis will not receive any proceeds from this offering. The offering is set to close on May 28, 2024, subject to standard closing conditions. Barclays, J.P. Morgan, and Goldman Sachs are among the lead managers. A registration statement was declared effective by the SEC on May 22, 2024. The offering is only available via a prospectus filed with the SEC.

Fidelis Insurance Group (NYSE: FIHL), a global specialty insurer, has announced a secondary public offering of 9,000,000 common shares by certain shareholders. The underwriters have a 30-day option to buy an additional 1,350,000 shares. Fidelis will not sell any shares itself or benefit from the proceeds. Joint Lead Bookrunning Managers for the offering are Barclays, J.P. Morgan, and Goldman Sachs & Co. , among other investment banks. This offering is subject to regulatory approval and a prospectus will be available through the underwriters.