The Bermuda Business Development Agency has congratulated Fidelis Insurance Holdings on its listing on the New York Stock Exchange.

The company sold 15 million shares at $14 a piece, raising $210 million and leaving the Bermuda-based company with a $1.5 billion valuation. More than half of the shares sold were from existing shareholders.

Trading commenced on June 29.

“I was thrilled and honoured to be with the great team from Fidelis for their IPO ceremony on the NYSE. This was not only a great day for them but also a great day for Bermuda as it showed the continued global significance of Bermudian companies,” said BDA chief executive David Hart, who attended the bell ringing ceremony at the stock exchange on listing day.

Athene and Butterfield are also traded on the NYSE.

The Fidelis listing was smaller than originally hoped and priced below the target range of $16 to $19 a share. Fewer existing shareholders than expected sold their shares.

Since its listing, Fidelis has performed mixed. The stock — which trades as FIHL — fell about six per cent at the debut, falling under $13 a one point, and remains below its listing price. On Friday, its traded at about $13.73.

Fidelis is a reinsurer with offices in Bermuda, Britain and Ireland.

“Bermuda continues to be a centre for financial services innovation, and I am pleased to once again see Bermuda’s flag flying proudly on Wall Street,” said David Burt, the Premier.