New Herbie Re cat bond ‘critical’ to capital and protection strategy: Fidelis

Bermuda-based Fidelis Insurance Holdings has closed a new Herbie Re catastrophe bond, granting the firm with $150 million of collateralised reinsurance protection. The chief underwriters emphasised that these cat bonds are a “critical component” of its capital management and protection strategy, enabling it to capitalise on opportunities across catastrophe exposed lines of business in 2024 and beyond.