v3.26.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Operating activities    
Net income $ 214.1 $ 107.7
Adjustments to reconcile net income after tax to net cash provided by/(used in) operating activities:    
Share compensation expense 8.8 5.3
Accretion, amortization and depreciation (10.0) (15.3)
Net realized and unrealized (gain)/loss on investments 4.1 (18.8)
Deferred tax expense 8.7 0.2
Net changes in assets and liabilities:    
Accrued investment income 3.4 11.4
Premiums and other receivables (744.6) (467.5)
Amounts due from The Fidelis Partnership (145.9) (166.8)
Deferred reinsurance premiums (163.2) (238.5)
Reinsurance balances recoverable on paid losses 67.2 (88.4)
Reinsurance balances recoverable on reserves for losses and loss adjustment expenses (125.3) 147.8
Deferred policy acquisition costs (244.5) (186.5)
Other assets 93.3 2.5
Reserves for losses and loss adjustment expenses 341.7 (866.0)
Unearned premiums 769.1 726.4
Reinsurance balances payable 65.9 245.9
Amounts due to The Fidelis Partnership 188.5 146.1
Other liabilities 50.2 17.4
Net cash provided by/(used in) operating activities 381.5 (637.1)
Investing activities    
Purchase of available-for-sale securities (2,458.5) (1,293.8)
Proceeds from maturities of available-for-sale securities 555.1 506.7
Proceeds from sales of available-for-sale securities 1,488.9 1,591.8
Proceeds from sale of other investments 5.8 0.0
Purchase of other investments (163.5) (185.5)
Purchase of fixed assets (0.9) (1.0)
Net cash provided by/(used in) investing activities (573.1) 618.2
Financing activities    
Proceeds from issuance of debt, net of issuance costs 0.0 393.3
Dividends on common shares (38.0) (37.4)
Repurchase of common shares (362.5) (142.7)
Tax paid on withholding shares (1.7) (0.2)
Redemption of junior notes (125.0) 0.0
Repurchase of preferred securities 0.0 (59.6)
Net cash provided by/(used in) financing activities (527.2) 153.4
Effect of exchange rate changes on foreign currency cash (2.5) 7.9
Net increase/(decrease) in cash, restricted cash, and cash equivalents (721.3) 142.4
Cash, restricted cash, and cash equivalents, beginning of period 1,247.6 946.6
Cash, restricted cash, and cash equivalents, end of period 526.3 1,089.0
Cash, restricted cash, and cash equivalents comprise the following:    
Cash and cash equivalents 446.1 892.5
Restricted cash and cash equivalents 80.2 196.5
Total cash, cash equivalents and restricted cash $ 526.3 $ 1,089.0