Mike Zielinski's questions to Fidelis Insurance Holdings Ltd (FIHL) leadership • Q2 2025
Question
Mike Zielinski of BMO Capital Markets sought a more technical explanation of how Fidelis's leadership and cross-selling capabilities result in better pricing than the broader market. He also asked for the corresponding industry loss for the company's disclosed PMLs.
Answer
CEO Dan Burrows detailed that their lead position, primarily through the Fidelis partnership, allows them to be 'price makers' by leveraging multi-class offerings (e.g., terror, casualty, property) to a single client. Regarding PMLs, CFO Alan Declare and Group Managing Director Johnny Strickle explained that their PMLs are based on a ground-up analysis of their specific portfolio, not a direct correlation to industry-wide loss figures, which can vary significantly by peril.