Fidelis Insurance Holdings Ltd · Q1 2025 earnings

Briefing

Fidelis Q1 net loss of $42.5M as California wildfires drive combined ratio to 115.6%

Fidelis Insurance Holdings reported Q1 2025 results with gross premiums written of $1.723 billion, up 14% year over year, driven by strong retention and new business across the portfolio. However, catastrophe and large losses of $333 million — primarily from California wildfires ($166.8 million net) — pushed the combined ratio to 115.6% from 85.8% a year ago. Net loss was $42.5 million ($0.38 diluted EPS) and operating net loss was $45.3 million ($0.41 operating EPS). Net investment income rose 21% to $50 million. Book value per diluted common share was $21.54 at March 31 versus $21.79 at year end. The company returned $33.2 million to shareholders via $22.1 million of repurchases and $11.1 million of dividends.

• Gross premiums written $1.723B (+14% YoY); combined ratio 115.6% vs 85.8% in Q1 2024
• Net loss $42.5M ($0.38 EPS); operating net loss $45.3M ($0.41 operating EPS)
• Cat and large losses $333M including $166.8M net California wildfire impact
• Net investment income $50M (+21% YoY); book value per diluted share $21.54
• Returned $33.2M to shareholders in Q1 via buybacks and dividends

Headline financials

Revenue & EPS history