Fidelis has reported a 25.2 per cent third quarter growth in gross premiums written, up to $741.9 million. Net income was $100.6 million.

Dan Burrows, group chief executive officer of Fidelis Insurance Group, said the results demonstrated the strength of the business.

“It shows the steps we have taken to optimise our risk adjusted returns, and our disciplined approach to capital management,” he said. “We delivered, a combined ratio of 87.4 per cent and annualised operating return on average equity of 16.4 per cent.

“In addition, given the strength of our capital position, we have continued to return excess capital to shareholders, including repurchases of $66.8 million of common shares, demonstrating our commitment to enhancing shareholder value.”

For the first nine months ending 30 September 2024, Fidelis reported gross premiums written of $3.4 billion, a 23.4 per cent growth from the same period in 2023.

Net income for the nine months was $235.5 million. Net investment income for the nine months was $139.1 million, an increase from $80.8 million last year.

Looking ahead Mr Burrows planned to remain focused on leveraging their scale and positioning.

“We want to capitalise on our ability to identify compelling opportunities and produce superior underwriting results,” he said. “We are pleased with the momentum in our business and continue to pursue attractive growth and value creation for shareholders.”