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Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues        
Gross premiums written $ 1,219.0 $ 1,193.2 $ 2,941.9 $ 2,707.5
Reinsurance premiums ceded (520.1) (523.3) (1,216.6) (1,259.5)
Net premiums written 698.9 669.9 1,725.3 1,448.0
Change in net unearned premiums (160.9) (168.8) (584.3) (458.9)
Net premiums earned 538.0 501.1 1,141.0 989.1
Investment Income, Net 44.6 46.0 94.1 87.0
Net realized and unrealized investment gains/(losses) 6.7 (7.0) 12.6 (16.0)
Total revenues 589.3 540.1 1,247.7 1,060.1
Expenses        
Losses and loss adjustment expenses 296.7 222.7 725.9 405.0
Policy acquisition expenses (includes The Fidelis Partnership commissions of $70.6 and $149.0 (2024: $75.0 and $151.7)) 239.6 217.3 485.9 430.2
General and administrative expenses 22.3 24.4 44.3 48.0
Corporate and other expenses 1.2 1.6 1.2 1.6
Net foreign exchange (gains)/losses (2.0) 2.6 0.5 0.1
Financing costs 9.3 8.6 18.0 17.2
Total expenses 567.1 477.2 1,275.8 902.1
Income/(loss) before income taxes 22.2 62.9 (28.1) 158.0
Income tax (expense)/benefit (2.5) (9.2) 5.3 (23.1)
Net income/(loss) 19.7 53.7 (22.8) 134.9
Other comprehensive income        
Unrealized gains/(losses) on available-for-sale investments 10.9 (0.4) 36.6 (8.6)
Reclassification of net realized losses/(gains) recognized in net income (0.8) 6.1 (1.6) 13.5
Income tax (expense)/benefit, all of which relates to unrealized gains/(losses) on available-for-sale investments 0.6 (0.8) (6.8) (0.2)
Total other comprehensive income 10.7 4.9 28.2 4.7
Comprehensive income $ 30.4 $ 58.6 $ 5.4 $ 139.6
Per share data        
Earnings/(loss) per common share (in dollars per share) $ 0.18 $ 0.46 $ (0.21) $ 1.15
Earnings/(loss) per diluted common share (in dollars per share) $ 0.18 $ 0.46 $ (0.21) $ 1.14
Weighted average common shares outstanding (in shares) 108,627,579 117,089,293 110,077,312 117,373,655
Weighted average diluted common shares outstanding (in shares) 109,135,824 117,625,022 110,077,312 117,860,982