Overview
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- TickerPLGO on NYSE2
- IndustryFire, Marine & Casualty Insurance2
- HeadquartersHamilton, Bermuda2
- Incorporated inBermuda4
- Business addressWellesley House South, 4Th Floor, 90 Pitts Bay Road, Pembroke, Hm084
- Filer categoryLarge accelerated filer4
- Legal formExempted Companies Limited by Shares2
- LEI549300CDMGCAGJQ7DX032
- StatusActive2
- LEI statusIssued and current2
- Registered addressWaterloo House, HM 08 Hamilton, Bermuda2
- Registered withRegistrar of Companies (Ministry of Economic Development), 494142
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Fidelis Insurance Group is a global specialty insurer headquartered in Bermuda, with offices in Ireland and the United Kingdom.7 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Other costs89¢$2.2B
- Income tax2¢$50.1M
- Profit9¢$225.5M
Out of $2.5B in revenue.3
Financial statements
No quarterly figures reported.
Every line of the income statement as filed: the last 3 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Gross premiums written | $4.7B | $4.4B | $3.6B |
| Reinsurance premiums ceded | -$1.7B | -$2.0B | -$1.4B |
| Net premiums written | $3.0B | $2.4B | $2.1B |
| Change in net unearned premiums | -$714.9M | -$136.5M | -$304.0M |
| Net premiums earned | $2.3B | $2.3B | $1.8B |
| Net investment income | $184.0M | $190.5M | $119.5M |
| Net realized and unrealized investment gains/(losses) | $22.8M | -$28.6M | $4.9M |
| Other income | $0 | $0 | $100.0K |
| Total revenues before net gain on distribution of The Fidelis Partnership | $2.5B | $2.4B | $2.0B |
| Net gain on distribution of The Fidelis Partnership | $0 | $0 | $1.6B |
| Total revenues | $2.5B | $2.4B | $3.6B |
| Losses and loss adjustment expenses | $1.1B | $1.2B | $698.8M |
| Policy acquisition expenses (includes The Fidelis Partnership commissions of $328.8 (2024: $311.1 and 2023: $225.3)) | $990.1M | $999.7M | $723.8M |
| General and administrative expenses | $96.6M | $94.3M | $82.7M |
| Corporate and other expenses | $1.2M | $1.6M | $4.1M |
| Net foreign exchange (gains)/losses | -$500.0K | -$1.6M | $4.1M |
| Financing costs | $47.7M | $33.8M | $35.5M |
| Total expenses | $2.2B | $2.3B | $1.5B |
| Income before income taxes | $275.6M | $136.4M | $2.0B |
| Income tax (expense)/benefit | -$50.1M | -$23.1M | $85.3M |
| Net income | $225.5M | $113.3M | $2.1B |
| Unrealized gains on available-for-sale investments | $46.4M | $9.6M | $81.7M |
| Reclassification of net realized losses/(gains) recognized in net income | -$4.6M | $24.7M | $700.0K |
| Income tax expense, all of which relates to unrealized gains on available-for-sale investments | -$9.2M | -$2.8M | -$9.7M |
| Total other comprehensive income | $32.6M | $31.5M | $72.7M |
| Comprehensive income attributable to common shareholders | $258.1M | $144.8M | $2.2B |
| Earnings per common share (in dollars per share) | $2.12 | $0.98 | $18.65 |
| Earnings per diluted common share (in dollars per share) | $2.11 | $0.98 | $18.65 |
| Weighted average basic common shares outstanding (in shares) | 106.2M shares | 115.2M shares | 114.3M shares |
| Weighted average diluted common shares outstanding (in shares) | 106.7M shares | 115.6M shares | 114.3M shares |
No quarter-by-quarter statement was filed.
No quarterly figures reported.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Other investments, at fair value | $485.7M | $201.0M | ||
| Total investments | $3.2B | $3.8B | ||
| Cash and cash equivalents | $873.0M | $743.0M | ||
| Restricted cash and cash equivalents | $374.6M | $203.6M | ||
| Accrued investment income | $28.3M | $35.3M | ||
| Premiums and other receivables (net of allowance for credit losses of $15.8, 2024: $11.8) | $3.3B | $2.7B | ||
| Deferred reinsurance premiums | $1.4B | $1.4B | ||
| Reinsurance balances recoverable on paid losses (net of allowance for credit losses of $0.3, 2024: $0.2) | $438.7M | $278.4M | ||
| Reinsurance balances recoverable on reserves for losses and loss adjustment expenses (net of allowance for credit losses of $0.9, 2024: $0.8) | $1.2B | $1.3B | $1.1B | $976.1M |
| Deferred policy acquisition costs (includes The Fidelis Partnership deferred commissions of $243.4, 2024: $200.2) | $1.1B | $877.9M | $786.6M | |
| Other assets | $272.7M | $176.9M | ||
| Total assets | $12.4B | $11.8B | ||
| Reserves for losses and loss adjustment expenses | $2.6B | $3.1B | $2.4B | $2.0B |
| Unearned premiums | $4.4B | $3.7B | ||
| Reinsurance balances payable | $1.7B | $1.5B | ||
| Long term debt | $843.2M | $448.9M | ||
| Preference securities | $0 | $58.4M | ||
| Other liabilities | $91.8M | $98.0M | ||
| Total liabilities | $10.0B | $9.3B | ||
| Common shares ($0.01 par, issued and outstanding: 96,651,534, 2024: 111,730,209) | $1.0M | $1.2M | ||
| Common shares held in treasury, at cost (shares held: nil, 2024: 6,570,003) | $0 | -$105.5M | ||
| Additional paid-in capital | $1.7B | $2.0B | ||
| Accumulated other comprehensive income | $37.1M | $4.5M | ||
| Retained earnings | $675.9M | $503.6M | ||
| Total shareholders' equity | $2.4B | $2.4B | ||
| Total liabilities and shareholders' equity | $12.4B | $11.8B | ||
| Amortized cost | $2.6B | $3.4B | ||
| Debt securities, available-for-sale, allowance for credit loss, excluding accrued interest | $600.0K | $5.9M | $1.3M | $1.1M |
| Premium receivable, allowance for credit loss | $15.8M | $11.8M | $17.3M | |
| Other receivables, allowance for credit loss | $0 | $0 | ||
| Reinsurance recoverables on paid losses, allowance | $300.0K | $200.0K | ||
| Reinsurance recoverables on unpaid losses, allowance | $900.0K | $800.0K | ||
| Common stock, par or stated value per share (in dollars per share) | $0.01 | $0.01 | ||
| Common stock, shares, issued (in shares) | 96.7M shares | 111.7M shares | ||
| Common stock, shares, outstanding (in shares) | 96.7M shares | 111.7M shares | ||
| Treasury stock, common, shares (in shares) | 0 shares | 6.6M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Other investments, at fair value | $485.7M | $201.0M | ||
| Total investments | $3.2B | $3.8B | ||
| Cash and cash equivalents | $873.0M | $743.0M | ||
| Restricted cash and cash equivalents | $374.6M | $203.6M | ||
| Accrued investment income | $28.3M | $35.3M | ||
| Premiums and other receivables (net of allowance for credit losses of $15.8, 2024: $11.8) | $3.3B | $2.7B | ||
| Deferred reinsurance premiums | $1.4B | $1.4B | ||
| Reinsurance balances recoverable on paid losses (net of allowance for credit losses of $0.3, 2024: $0.2) | $438.7M | $278.4M | ||
| Reinsurance balances recoverable on reserves for losses and loss adjustment expenses (net of allowance for credit losses of $0.9, 2024: $0.8) | $1.2B | $1.3B | $1.1B | $976.1M |
| Deferred policy acquisition costs (includes The Fidelis Partnership deferred commissions of $243.4, 2024: $200.2) | $1.1B | $877.9M | $786.6M | |
| Other assets | $272.7M | $176.9M | ||
| Total assets | $12.4B | $11.8B | ||
| Reserves for losses and loss adjustment expenses | $2.6B | $3.1B | $2.4B | $2.0B |
| Unearned premiums | $4.4B | $3.7B | ||
| Reinsurance balances payable | $1.7B | $1.5B | ||
| Long term debt | $843.2M | $448.9M | ||
| Preference securities | $0 | $58.4M | ||
| Other liabilities | $91.8M | $98.0M | ||
| Total liabilities | $10.0B | $9.3B | ||
| Common shares ($0.01 par, issued and outstanding: 96,651,534, 2024: 111,730,209) | $1.0M | $1.2M | ||
| Common shares held in treasury, at cost (shares held: nil, 2024: 6,570,003) | $0 | -$105.5M | ||
| Additional paid-in capital | $1.7B | $2.0B | ||
| Accumulated other comprehensive income | $37.1M | $4.5M | ||
| Retained earnings | $675.9M | $503.6M | ||
| Total shareholders' equity | $2.4B | $2.4B | ||
| Total liabilities and shareholders' equity | $12.4B | $11.8B | ||
| Amortized cost | $2.6B | $3.4B | ||
| Debt securities, available-for-sale, allowance for credit loss, excluding accrued interest | $600.0K | $5.9M | $1.3M | $1.1M |
| Premium receivable, allowance for credit loss | $15.8M | $11.8M | $17.3M | |
| Other receivables, allowance for credit loss | $0 | $0 | ||
| Reinsurance recoverables on paid losses, allowance | $300.0K | $200.0K | ||
| Reinsurance recoverables on unpaid losses, allowance | $900.0K | $800.0K | ||
| Common stock, par or stated value per share (in dollars per share) | $0.01 | $0.01 | ||
| Common stock, shares, issued (in shares) | 96.7M shares | 111.7M shares | ||
| Common stock, shares, outstanding (in shares) | 96.7M shares | 111.7M shares | ||
| Treasury stock, common, shares (in shares) | 0 shares | 6.6M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income before equity in net income of subsidiaries | $225.5M | $113.3M | $2.1B |
| Revaluation of The Fidelis Partnership | $0 | $0 | -$1.7B |
| Share compensation expense | $7.9M | $7.8M | $27.6M |
| Accretion, amortization and depreciation | -$19.2M | -$14.0M | $300.0K |
| Net realized and unrealized (gain)/loss on investments | -$22.8M | $28.6M | -$8.6M |
| Deferred tax expense/(benefit) | $8.9M | $9.8M | -$86.5M |
| Accrued investment income | $7.0M | -$8.1M | -$16.3M |
| Premiums and other receivables | -$495.6M | -$572.7M | -$321.3M |
| Amounts due from The Fidelis Partnership | $38.6M | -$37.6M | -$176.2M |
| Deferred reinsurance premiums | -$19.3M | -$360.8M | -$237.7M |
| Reinsurance balances recoverable on paid losses | -$146.6M | -$103.1M | -$22.5M |
| Reinsurance balances recoverable on reserves for losses and loss adjustment expenses | $85.7M | -$168.5M | -$125.5M |
| Deferred policy acquisition costs | -$207.1M | -$91.3M | -$270.6M |
| Other assets | -$103.6M | -$10.9M | $34.6M |
| Reserves for losses and loss adjustment expenses | -$582.5M | $728.0M | $383.9M |
| Unearned premiums | $733.3M | $502.0M | $530.9M |
| Reinsurance balances payable | $45.5M | $507.8M | $7.1M |
| Amounts due to The Fidelis Partnership | $59.7M | $56.8M | $334.0M |
| Other liabilities | -$23.7M | $31.1M | $16.6M |
| Net cash provided by/(used in) operating activities | -$408.3M | $618.2M | $495.2M |
| Purchase of available-for-sale securities | -$1.8B | -$2.3B | -$2.2B |
| Proceeds from maturities of available-for-sale securities | $697.3M | $796.5M | $1.3B |
| Proceeds from sales of available-for-sale securities | $2.0B | $1.2B | $10.8M |
| Purchase of other investments | -$272.0M | -$200.0M | $0 |
| Proceeds from sale of other investments | $0 | $47.3M | $75.2M |
| Purchase of fixed assets | -$1.2M | -$4.6M | -$6.4M |
| Net cash provided by/(used in) investing activities | $682.7M | -$475.8M | -$834.9M |
| Dividends on common shares | -$52.3M | -$46.2M | $0 |
| Repurchase of common shares | -$261.4M | -$105.5M | $0 |
| Tax paid on withholding shares | -$200.0K | -$2.2M | -$50.6M |
| Proceeds from issuance of debt, net of issuance costs | $393.3M | $0 | $0 |
| Repurchase of preferred securities | -$59.6M | $0 | $0 |
| Proceeds from issuance of common shares, net of issuance costs | $0 | $0 | $89.4M |
| Non-controlling interest share transactions | $0 | $0 | -$6.1M |
| Net cash used in disposal of subsidiary | $0 | $0 | -$105.5M |
| Cumulative dividends on warrants | $0 | $0 | -$34.1M |
| Net cash provided by/(used in) financing activities | $19.8M | -$153.9M | -$106.9M |
| Effect of exchange rate changes on foreign currency cash | $6.8M | -$6.0M | $2.8M |
| Net increase/(decrease) in cash, restricted cash, and cash equivalents | $301.0M | -$17.5M | -$443.8M |
| Cash paid during the year for interest | $42.6M | $29.6M | $29.7M |
No quarter-by-quarter statement was filed.
Corporate structure
Pelagos Insurance Capital Ltd sits at the top of its group. 3 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Pelagos Insurance Capital Ltd
- Pine Brook Road Advisors, L.P. Filed SCHEDULE 13G/A on Pelagos Insurance Capital Ltd, latest Aug 13, 2026 (4 filings since Feb 9, 2024)
- COOPERMAN LEON G Filed SCHEDULE 13G/A on Pelagos Insurance Capital Ltd, latest Aug 11, 2026 (6 filings since Aug 27, 2025)
- SPFM Holdings, LLC Filed SCHEDULE 13G/A on Pelagos Insurance Capital Ltd, latest Aug 7, 2026 (4 filings since Feb 9, 2024)
- CVC Capital Partners VI Ltd Filed SCHEDULE 13G/A on Pelagos Insurance Capital Ltd, latest May 12, 2026 (5 filings since Feb 14, 2024)
- LSV ASSET MANAGEMENT Filed SCHEDULE 13G on Pelagos Insurance Capital Ltd, latest May 12, 2026
- Crestview Partners III GP, L.P. Filed SCHEDULE 13G/A on Pelagos Insurance Capital Ltd, latest Feb 17, 2026 (4 filings since Feb 14, 2024)
- Shelf Holdco II Ltd Filed SCHEDULE 13G/A on Pelagos Insurance Capital Ltd, latest Jul 10, 2025 (2 filings since Feb 13, 2024)
- Abu Dhabi Investment Authority Filed SCHEDULE 13G/A on Pelagos Insurance Capital Ltd, latest Feb 11, 2025 (3 filings since Feb 5, 2024)
- Pelagos Insurance Capital Ltd Hamilton, Bermuda
- Fidelis Insurance Bermuda Limited Hamilton, Bermuda
- FIDELIS UNDERWRITING LIMITED London, United Kingdom
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Pelagos Insurance Capital Ltd reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Operating-lease assets (leased space) | $9.8M3 Dec 31, 2025 | $11.1M3 Dec 31, 2024 | −11.7% |
Investments
Leadership
Who has led Pelagos Insurance Capital Ltd, and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
Chief operating officer
- Chief executive officerDaniel David Burrows Mar 18, 2026 to now10
- Chief financial officerAllan Carl Decleir Mar 18, 2026 to now11
- Chief operating officerJason Allen Kittinger Mar 18, 2026 to now12
Board members and other officers (15)
- Group Managing DirectorJonathan Strickle Mar 18, 2026 to now13
- Chief Risk OfficerMichael Justin Pearson Mar 18, 2026 to now14
- Board memberAllan Carl Decleir Mar 18, 2026 to now11
- Board memberCathleen Ann Iberg Mar 18, 2026 to now15
- Board memberCharles Benedict Mathias Mar 18, 2026 to now16
- Board memberCharles Grant Ross Collis Mar 18, 2026 to now17
- Board memberChristine Elaine Dandridge Mar 18, 2026 to now18
- Board memberDaniel A. Brand Mar 18, 2026 to now19
- Board memberDaniel David Burrows Mar 18, 2026 to now10
- Board memberDaniel G. Kilpatrick Mar 18, 2026 to now20
- Board memberHelena Morrissey Mar 18, 2026 to now21
- Board memberMatthew J. Adams Mar 18, 2026 to now22
- Board memberWalter Dana Laforge Mar 18, 2026 to now23
- Board memberMichael Elliot Davern Sep 23, 2026 to now24
- General counselNicole Ka'Ulu'Okala Kapu-Leyland Mar 18, 2026 to now25
Subsidiaries and ownership
Subsidiaries (GLEIF)
Ownership links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); each one cites its LEI record.
Former names
- Fidelis Insurance Holdings LtdMar 19, 2015 to May 7, 20264
Timeline
Filings
164 filings to the SEC since October 2021: 3 annual reports, 30 insider forms, 29 large holders, 102 other. The latest 20:
- Oct 14, 20264 EDGAR
- Sep 23, 20263 EDGAR
- Sep 14, 20266-K EDGAR
- Aug 13, 2026SCHEDULE 13G/A EDGAR
- Aug 12, 20266-K EDGAR
- Aug 11, 2026SCHEDULE 13G/A EDGAR
- Aug 11, 2026SCHEDULE 13G/A EDGAR
- Aug 7, 2026SCHEDULE 13G/A EDGAR
- Aug 3, 20266-K EDGAR
- Aug 3, 20266-K EDGAR
- Jun 3, 20264 EDGAR
- May 13, 20266-K EDGAR
- May 13, 2026SCHEDULE 13G/A EDGAR
- May 12, 20266-K EDGAR
- May 12, 2026SCHEDULE 13G/A EDGAR
- May 12, 2026SCHEDULE 13G EDGAR
- May 7, 20266-K EDGAR
- May 7, 20266-K EDGAR
- May 6, 2026SCHEDULE 13G/A EDGAR
- Apr 28, 20266-K EDGAR
The 164 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Pine Brook Road Advisors, L.P.SCHEDULE 13G/A, 4 filings Feb 9, 2024 to Aug 13, 202626
- COOPERMAN LEON GSCHEDULE 13G/A, 6 filings Aug 27, 2025 to Aug 11, 202627
- SPFM Holdings, LLCSCHEDULE 13G/A, 4 filings Feb 9, 2024 to Aug 7, 202628
- CVC Capital Partners VI LtdSCHEDULE 13G/A, 5 filings Feb 14, 2024 to May 12, 202629
- LSV ASSET MANAGEMENTSCHEDULE 13G, 1 filing May 12, 202630
- Crestview Partners III GP, L.P.SCHEDULE 13G/A, 4 filings Feb 14, 2024 to Feb 17, 202631
- Shelf Holdco II LtdSCHEDULE 13G/A, 2 filings Feb 13, 2024 to Jul 10, 202532
- Abu Dhabi Investment AuthoritySCHEDULE 13G/A, 3 filings Feb 5, 2024 to Feb 11, 202533
SEC filer profile
How Pelagos Insurance Capital Ltd is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARPelagos Insurance Capital Ltd1
- CIK0001636639
- Filer statusLarge accelerated filer not an emerging growth company; not a shell company7
- Incorporated inBermuda7
- Fiscal year endsDecember 311
- Industry code (SIC)6331 Fire, Marine & Casualty Insurance1
- SEC reviewing officeOffice of Finance, Division of Corporation Finance1
- Business addressWellesley House South, 4Th Floor, 90 Pitts Bay Road, Pembroke, HM08, Bermuda1
- Mailing addressRichmond House, 12 Par-La-Ville Road, Hamilton, HM08, Bermuda1
- Phone(441) 295 59501
- Shares outstanding96,651,534 shares as of Dec 31, 20257
- AuditorKPMG Audit Limited, Hamilton, Bermuda PCAOB ID 1297; it also attests to the company’s internal control over financial reporting7
- On EDGAR sinceMar 19, 20151
- Filings167 in all: 6-K (53), SCHEDULE 13G/A (17), 3 (16), 4 (13), 144 (7), CORRESP (7), UPLOAD (7), SC 13G (6)1
All 28 form types
F-1/A (4), SC 13G/A (4), 20-F (3), 424B2 (3), DRS/A (3), DRSLTR (3), 424B4 (2), D (2), DRS (2), EFFECT (2), F-1 (2), FWP (2), SCHEDULE 13G (2), 3/A (1), 6-K/A (1), 8-A12B (1), CERT (1), D/A (1), F-3ASR (1), S-8 (1)
- Latest filingsAnnual report (20-F) Mar 5, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common shares, par value $0.01 per share | FIHL | New York Stock Exchange |
From the cover page of the 20-F filed Mar 5, 2026 (Section 12(b) of the Exchange Act).7
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 15SEC EDGARCathleen Ann Iberg, Board member
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- 19SEC EDGARDaniel A. Brand, Board member
- 20SEC EDGARDaniel G. Kilpatrick, Board member
- 21SEC EDGARHelena Morrissey, Board member
- 22SEC EDGARMatthew J. Adams, Board member
- 23SEC EDGARWalter Dana Laforge, Board member
- 24SEC EDGARMichael Elliot Davern, Board member
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