Fidelis Insurance Holdings Limited — Cyborg Score 8/10

Strong
Specialty Insurance and Reinsurance

Strategic Profile

Fidelis is a global specialty insurance and reinsurance company focused on creating value through strategic capital allocation and expert risk selection, underpinned by disciplined approach to risk selection and strong financial strength reflected in ratings of A from AM Best, A- from S&P and A3 from Moody's. In 2025, the company achieved record gross premiums written of $4.7 billion, up 7.1% over the prior year.

Cyborg Score Rationale

The company delivered an 80.6% combined ratio with an annualized Operating ROAE of 18.3% in Q4 2025, demonstrating operational excellence and strong profitability. The company increased share repurchase authorization to $400 million and returned $313.7 million to shareholders in 2025 through buybacks and dividends, showing confident capital management.

Top Insights

  • Record gross premiums written of $4.7 billion in 2025, representing 7.1% year-over-year growth
  • Outstanding Q4 2025 combined ratio of 80.6% with 18.3% annualized Operating ROAE demonstrates underwriting excellence
  • Plans to rebrand as Pelagos Capital Insurance in 2026 signal strategic repositioning and brand evolution
  • Strong capital return strategy with $313.7 million returned to shareholders in 2025 and expanded $400 million repurchase authorization

Named Competitors

  • Specialty Insurance — Specialty insurance competitor based in Houston, TX
  • Reinsurance — Global reinsurance market participants

Recent Developments

  • (February 2026) Board approved $400 million share repurchase increase and $0.15 per share dividend
  • (February 2026) Reported outstanding Q4 2025 results with 80.6% combined ratio and $117.8M net income
  • (January 2026) Announced plans to rebrand as Pelagos Capital Insurance in 2026

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