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Segments (Tables)
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Schedule of Reconciliation of Operating Profit (Loss) from Segments to Consolidated
The following tables summarize the Group's segment disclosures:
Three Months Ended September 30, 2024
SpecialtyBespokeReinsuranceOtherTotal
Gross premiums written$398.4 $185.8 $157.7 $— $741.9 
Net premiums written285.2 109.1 73.6 — 467.9 
Net premiums earned372.0 105.0 157.5 — 634.5 
Losses and loss adjustment expenses(182.3)(19.4)(36.1)— (237.8)
Policy acquisition expenses(122.4)(37.4)(36.9)(97.3)(294.0)
General and administrative expenses— — — (22.7)(22.7)
Underwriting income67.3 48.2 84.5 (120.0)80.0 
Net investment income52.1 
Net realized and unrealized investment losses(0.5)
Corporate and other expenses— 
Net foreign exchange losses(4.8)
Financing costs(8.9)
Income before income taxes117.9 
Income tax expense(17.3)
Net income$100.6 
Losses and loss adjustment expenses incurred - current year
(168.3)(30.5)(49.1)$(247.9)
Losses and loss adjustment expenses incurred - prior accident years
(14.0)11.1 13.0 10.1 
Losses and loss adjustment expenses incurred - total
$(182.3)$(19.4)$(36.1)$(237.8)
Underwriting Ratios(1)
Loss ratio - current year45.2 %29.1 %31.2 %39.1 %
Loss ratio - prior accident years3.8 %(10.6 %)(8.3 %)(1.6 %)
Loss ratio - total49.0 %18.5 %22.9 %37.5 %
Policy acquisition expense ratio32.9 %35.6 %23.4 %31.0 %
Underwriting ratio81.9 %54.1 %46.3 %68.5 %
The Fidelis Partnership commissions ratio15.3 %
General and administrative expense ratio3.6 %
Combined ratio87.4 %
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(1)Underwriting ratios are calculated by dividing the related expense by net premiums earned.
Three Months Ended September 30, 2023
SpecialtyBespokeReinsuranceOtherTotal
Gross premiums written$326.9 $161.7 $104.0 $— $592.6 
Net premiums written203.6 78.1 30.9 — 312.6 
Net premiums earned294.6 98.8 116.3 — 509.7 
Losses and loss adjustment expenses(138.3)(43.2)(10.2)— (191.7)
Policy acquisition expenses(83.4)(34.9)(32.5)(70.6)(221.4)
General and administrative expenses— — — (21.8)(21.8)
Underwriting income72.9 20.7 73.6 (92.4)74.8 
Net investment income33.1 
Net realized and unrealized investment losses(5.3)
Corporate and other expenses(0.4)
Net foreign exchange gains2.4 
Financing costs(9.0)
Income before income taxes95.6 
Income tax expense(7.9)
Net income$87.7 
Losses and loss adjustment expenses incurred - current year
(141.0)(55.5)(38.5)$(235.0)
Losses and loss adjustment expenses incurred - prior accident years
2.7 12.3 28.3 43.3 
Losses and loss adjustment expenses incurred - total
$(138.3)$(43.2)$(10.2)$(191.7)
Underwriting Ratios(1)
Loss ratio - current year47.8 %56.1 %33.1 %46.1 %
Loss ratio - prior accident years(0.9 %)(12.4 %)(24.3 %)(8.5 %)
Loss ratio - total46.9 %43.7 %8.8 %37.6 %
Policy acquisition expense ratio28.3 %35.3 %27.9 %29.6 %
Underwriting ratio75.2 %79.0 %36.7 %67.2 %
The Fidelis Partnership commissions ratio13.9 %
General and administrative expense ratio4.3 %
Combined ratio85.4 %
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(1)Underwriting ratios are calculated by dividing the related expense by net premiums earned.
Nine Months Ended September 30, 2024
SpecialtyBespokeReinsuranceOtherTotal
Gross premiums written$2,188.9 $429.9 $830.6 $— $3,449.4 
Net premiums written1,337.5 189.8 388.6 — 1,915.9 
Net premiums earned1,073.4 287.9 262.3 — 1,623.6 
Losses and loss adjustment expenses(545.9)(75.7)(21.2)— (642.8)
Policy acquisition expenses(313.4)(101.1)(60.7)(249.0)(724.2)
General and administrative expenses— — — (70.7)(70.7)
Underwriting income214.1 111.1 180.4 (319.7)185.9 
Net investment income139.1 
Net realized and unrealized investment losses(16.5)
Corporate and other expenses(1.6)
Net foreign exchange losses(4.9)
Financing costs(26.1)
Income before income taxes275.9 
Income tax expense(40.4)
Net income$235.5 
Losses and loss adjustment expenses incurred - current year
(580.4)(137.9)(70.2)$(788.5)
Losses and loss adjustment expenses incurred - prior accident years
34.5 62.2 49.0 145.7 
Losses and loss adjustment expenses incurred - total
$(545.9)$(75.7)$(21.2)$(642.8)
Underwriting Ratios(1)
Loss ratio - current year54.1 %47.9 %26.8 %48.6 %
Loss ratio - prior accident years(3.2 %)(21.6 %)(18.7 %)(9.0 %)
Loss ratio - total50.9 %26.3 %8.1 %39.6 %
Policy acquisition expense ratio29.2 %35.1 %23.1 %29.3 %
Underwriting ratio80.1 %61.4 %31.2 %68.9 %
The Fidelis Partnership commissions ratio15.3 %
General & administrative expense ratio4.4 %
Combined ratio88.6 %
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(1)Underwriting ratios are calculated by dividing the related expense by net premiums earned.
Nine Months Ended September 30, 2023
SpecialtyBespokeReinsuranceOtherTotal
Gross premiums written$1,818.3 $367.2 $609.6 $— $2,795.1 
Net premiums written1,158.4 189.9 239.1 — 1,587.4 
Net premiums earned868.0 280.4 176.4 — 1,324.8 
Losses and loss adjustment expenses(416.4)(72.5)(20.7)— (509.6)
Policy acquisition expenses(227.2)(105.1)(45.6)(147.4)(525.3)
General and administrative expenses— — — (57.0)(57.0)
Underwriting income224.4 102.8 110.1 (204.4)232.9 
Net investment income80.8 
Net realized and unrealized investment losses(2.4)
Other income0.2 
Net gain on distribution of The Fidelis Partnership1,639.1 
Corporate and other expenses(3.4)
Net foreign exchange gains0.8 
Financing costs(26.6)
Income before income taxes1,921.4 
Income tax expense(17.2)
Net income$1,904.2 
Losses and loss adjustment expenses incurred - current year
(383.7)(101.1)(72.6)$(557.4)
Losses and loss adjustment expenses incurred - prior accident years
(32.7)28.6 51.9 47.8 
Losses and loss adjustment expenses incurred - total
$(416.4)$(72.5)$(20.7)$(509.6)
Underwriting Ratios(1)
Loss ratio - current year44.2 %36.1 %41.1 %42.1 %
Loss ratio - prior accident years3.8 %(10.2 %)(29.4 %)(3.6 %)
Loss ratio - total48.0 %25.9 %11.7 %38.5 %
Policy acquisition expense ratio26.2 %37.5 %25.9 %28.5 %
Underwriting ratio74.2 %63.4 %37.6 %67.0 %
The Fidelis Partnership commissions ratio11.1 %
General & administrative expense ratio4.3 %
Combined ratio82.4 %
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(1)Underwriting ratios are calculated by dividing the related expense by net premiums earned.