Fidelis Insurance jumps after Q4 profit beat

Pelagos Insurance Capital

01/03/2024 15:40

** Shares of specialty insurer Fidelis Insurance  FIHL.N 
rise as much as 24.4% in morning trade, last up 13.7% at $17.02 
    ** After market close on Thursday, FIHL posted Q4 operating
net income of $1.15/shr vs analysts' expectations of 79
cents/shr - LSEG data
    ** Q4 net premiums earned jumped 25% to $507.8 mln
    ** Q4 net investment income more than doubled to $38.7 mln,
thanks to higher interest rates
    ** Across core lines, co expects hard market conditions to
continue in 2024 - CEO Dan Burrows
    ** Separately, FIHL initiated quarterly dividend program;
initial dividend will be 10 cents/shr payable on March 29
    ** Including session's moves, stock up 37.2% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))