v3.26.1
Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenues        
Gross premiums written $ 1,296.8 $ 1,219.0 $ 3,137.2 $ 2,941.9
Reinsurance premiums ceded (527.6) (520.1) (1,187.7) (1,216.6)
Net premiums written 769.2 698.9 1,949.5 1,725.3
Change in net unearned premiums (188.1) (160.9) (799.9) (584.3)
Net premiums earned 581.1 538.0 1,149.6 1,141.0
Net investment income 44.0 44.6 87.7 94.1
Net realized and unrealized investment gains 24.9 6.7 23.3 12.6
Total revenues 650.0 589.3 1,260.6 1,247.7
Expenses        
Losses and loss adjustment expenses 292.6 296.7 516.4 725.9
Policy acquisition expenses (includes The Fidelis Partnership commissions of $70.5 and $157.3 (2025: $70.6 and $149.0)) 256.4 239.6 495.7 485.9
General and administrative expenses 29.3 22.3 58.5 44.3
Corporate and other expenses 2.3 1.2 2.7 1.2
Net foreign exchange (gains)/losses 3.9 (2.0) 4.0 0.5
Financing costs 12.6 9.3 27.3 18.0
Total expenses 597.1 567.1 1,104.6 1,275.8
Income/(loss) before income taxes 52.9 22.2 156.0 (28.1)
Income tax (expense)/benefit (8.5) (2.5) (3.6) 5.3
Net income/(loss) 44.4 19.7 152.4 (22.8)
Other comprehensive income/(loss)        
Unrealized gains/(losses) on available-for-sale investments (11.0) 10.9 (37.5) 36.6
Reclassification of net realized losses/(gains) recognized in net income 0.7 (0.8) 0.7 (1.6)
Income tax (expense)/benefit, all of which relates to unrealized gains/(losses) on available-for-sale investments 2.0 0.6 7.0 (6.8)
Total other comprehensive income/(loss) (8.3) 10.7 (29.8) 28.2
Comprehensive income $ 36.1 $ 30.4 $ 122.6 $ 5.4
Per share data        
Earnings/(loss) per common share (in dollars per share) $ 0.53 $ 0.18 $ 1.72 $ (0.21)
Earnings/(loss) per diluted common share (in dollars per share) $ 0.52 $ 0.18 $ 1.71 $ (0.21)
Weighted average common shares outstanding (in shares) 84,414,876 108,627,579 88,664,331 110,077,312
Weighted average diluted common shares outstanding (in shares) 85,107,550 109,135,824 89,265,865 110,077,312