Fidelis Insurance mulls IPO

Dan Burrows-led Bermuda-based  Fidelis Insurance Holdings has confirmed its intention to pursue an initial public offering following the  formation of a new managing general underwriter—Fidelis MGU, separate from the existing balance sheet insurance companies.

Fidelis has confidentially submitted a draft registration statement on Form F-1 with the Securities and Exchange Commission (SEC) relating to the proposed IPO of its common shares.

The number of common shares to be offered and the price range for the proposed offering have not yet been determined.

The registration statement is expected to become effective, subject to market and other conditions, after the SEC completes its review process.

The newly formed Fidelis MGU is being led by chairman and chief executive officer Richard Brindle, while Fidelis Insurance Group is led by chief executive officer Burrows.

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