Birth of a new insurer: Fidelis Insurance Holding

A new insurance company has seen the light of day in Bermuda, Fidelis Insurance Holding. The company is endowed with an initial capital of 1.5 billion USD. Fidelis has become one of the best capitalized players in the sector at the date of its launch.

Crestview, CVC Capital Partners and Pine Brooks are the main shareholders. Fidelis will also be present in reinsurance, aviation, marine, energy and fire classes of business.

Despite overcapacity in the sector and the low level of interest rates offered by financial markets, investors are keen on diversification. Aon estimated reinsurance capacity at 575 billion USD in 2014.