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Jun 30, 2025
Fidelis Q2 2025 Earnings Report
Fidelis reported a modest profit in Q2 despite adverse development from Russia-Ukraine litigation.
Key Takeaways
Fidelis Insurance Group posted a net income of $19.7M in Q2 2025, aided by stable investment income, despite a $89.2M hit from adverse prior year reserve development. Operating EPS stood at $0.12, while gross premiums written rose to $1.22B.
Net income for Q2 2025 was $19.7M despite underwriting challenges
EPS stood at $0.18 while Operating EPS was $0.12
Combined ratio rose to 103.7% due to litigation impacts
Gross premiums written grew to $1.22B, driven by Insurance segment
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Fidelis aims to maintain capital returns and improve underwriting performance while managing geopolitical and catastrophe risk exposure.
Positive Outlook
- Increased dividend to $0.15 per share
- Renewed $200M share repurchase authorization
- Strong investment income contribution
- Book value per share increased QoQ
- Russia-Ukraine litigation exposure now mostly resolved
Challenges Ahead
- Combined ratio increased to 103.7%
- Significant $89.2M adverse reserve development
- Underwriting loss of $20.6M
- Decline in reinsurance segment premiums
- Operating ROAE fell to 2.3% from 10.0% YoY
Historical Earnings Impact
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Avg. Return Before/After Earnings
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