Fidelis Insurance Group reported a net loss of $122.2 million in the fourth quarter of 2024, a decrease from a net income of $228.3 million in the prior year period. Despite a 21.7% growth in gross premiums written to $953.7 million, the combined ratio significantly worsened to 128.0% from 81.4% in the prior year, primarily due to higher catastrophe and large losses and adverse prior year loss reserve development.
Gross premiums written increased by 21.7% to $953.7 million in Q4 2024 compared to Q4 2023.
The company reported a net loss of $122.2 million in Q4 2024, a significant decline from a net income of $228.3 million in Q4 2023.
The combined ratio deteriorated to 128.0% in Q4 2024 from 81.4% in Q4 2023, indicating a less profitable underwriting performance.
Net investment income increased to $51.4 million in Q4 2024 from $38.7 million in Q4 2023.
Fidelis Insurance Group is well-positioned for profitable growth by leveraging market access, strong relationships, and strategic capital management, supported by a robust balance sheet. The company aims to navigate market challenges and pursue accretive growth opportunities through differentiated expertise and proactive risk management.
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