Fidelis predicts hard market to continue into 2024

Fidelis Insurance Holdings, which  went public earlier this year, saw a significant decrease in catastrophe reinsurance claims in the third quarter, which led to a $88 million profit compared to a $93 million loss in the same period in 2022. Its CEO anticipates that the hard market conditions will continue into 2024, and indicated the company's intention to focus on its specialty lines.