Fidelis Insurance reports Q2 EPS 54c, consensus 69c

Reports Q2: Gross premiums written of $1.2B, up 24.7% from last year; Combined ratio of 92.7%. Dan Burrows, Group CEO of Fidelis Insurance Group, commented “As we mark our first anniversary as a public company, we are proud to have built a strong team, who are focused on realizing the value of our business. Our position as a market leader focused on short-tail specialty lines is enabling us to deliver attractive growth and create value for our shareholders. We are well positioned to quickly respond to market conditions and continue to leverage our lead positioning to capitalize on attractive rates, terms and conditions. In tandem with underwriting, active capital management remains a cornerstone of our strategy and to that end, we are pleased to announce our Board has approved a new share repurchase program of $200 million. In what remains one of the best markets we have seen in recent history, I am excited for the opportunities we see ahead.”