Quarterly ResultMay 13, 2026, 04:23 PM
Pelagos Insurance Capital Q1 GPW $1.8B, Combined Ratio 86.6%, ROAE 15.2%
AI Summary
Pelagos Insurance Capital (formerly Fidelis Insurance Holdings Ltd) reported strong first quarter 2026 financial results, with gross premiums written increasing 6.8% to $1.8 billion. The company achieved a significantly improved combined ratio of 86.6% and an annualized operating return on average common equity (ROAE) of 15.2%. Net income for the quarter was $108.0 million, or $1.15 per diluted common share, and book value per diluted common share grew 7.2% to $26.22. Additionally, the company returned $232.7 million to common shareholders, including $219.4 million in share repurchases, and completed its rebranding to Pelagos Insurance Capital with the new NYSE ticker PLGO.
Key Highlights
- Gross premiums written increased 6.8% to $1.8 billion in Q1 2026.
- Combined Ratio improved significantly to 86.6%, a 29-point improvement YoY.
- Annualized Operating ROAE reached 15.2%, up 23 points from prior year.
- Net income was $108.0 million, or $1.15 per diluted common share.
- Book value per diluted common share grew 7.2% to $26.22 at March 31, 2026.
- Returned $232.7 million to shareholders, including $219.4 million in share repurchases.
- Fidelis Insurance Group rebranded to Pelagos Insurance Capital (NYSE: PLGO) effective May 11, 2026.
- AM Best affirmed financial strength rating of A (Excellent) with a stable outlook.