Travelers takes stake in Bermuda insurer
Reprints
Travelers Cos. Inc. said Wednesday it has made minority investment in privately owned Bermuda-based specialty insurer and reinsurer Fidelis Insurance Holdings Ltd.
Terms of the transaction were not disclosed.
Fidelis launched in 2015 and has an investment management arm in addition to its underwriting units.
According to an investor presentation, it underwrites a range of specialty insurance lines, including transactional liability, credit and political risk, marine, aviation, energy and contingency risks. In addition, it underwrites property catastrophe reinsurance, retrocessional reinsurance and it is involved in the insurance-linked securities market.
In 2020, it reported gross written premium of $1.58 billion and a 78.6% combined ratio.
Read Next
-
Travelers beats profit estimates on investment gains, fewer claims
(Reuters) – Property/casualty insurer Travelers Cos. Inc. reported a jump in quarterly profit that beat analysts’ estimates on Thursday, helped by an increase in returns from investments and lower catastrophe claims.
