Pelagos Insurance Capital Limited · NYSE:PLGO
Pelagos Insurance Capital — Fidelis Insurance Holdings — Q3 2025 Earnings Presentation
14 slides from Pelagos Insurance Capital's earnings presentation, Nov 12, 2025
Slide 1: Q3 2025 Earnings Presentation
Q3 2025 Earnings Presentation November 12, 2025
Slide 2: Forward-looking statements
fidelisinsurance.com This presentation contains “forward-looking statements” which include all statements that do not relate solely to historical or current facts and which may concern our strategy, plans, targets, projections or intentions and are made pursuant to the safe harbor provisions of the
Slide 3: Fidelis Insurance Group: At a Glance
fidelisinsurance.com Fidelis Insurance Group: At a Glance Note: 1. Results as of September 30, 2025, and gross premiums written for the trailing twelve months (“TTM”) ended September 30, 2025. 2. The financial strength ratings included in this presentation are provided by third-party rating agencies
Slide 4: 2025 Third Quarter Key Takeaways
fidelisinsurance.com $16.24 $20.69 $21.79 $23.29 $0.40 $0.75 2022 2023 2024 Sep 30, 2025 2025 Third Quarter Key Takeaways 4 • We delivered outstanding results and we are driving consistently higher diluted book value per share. This performance demonstrates the strength of our portfolio and the succ
Slide 5: Key Quarterly Highlights
fidelisinsurance.com Key Quarterly Highlights 2025 Third Quarter Highlights Note: 1. See Appendix for definitions and reconciliations of non-GAAP financial measures. Q3 2024 QTD Q3 2025 QTD Gross Premiums Written $742M $798M Net Premiums Earned $635M $600M Combined Ratio 87.4% 79.0% Annualized Opera
Slide 6: Key Year-to-Date Highlights
fidelisinsurance.com Key Year-to-Date Highlights 2025 Year-to-Date Highlights Note: 1. See Appendix for definitions and reconciliations of non-GAAP financial measures. Q3 2024 YTD Q3 2025 YTD Gross Premiums Written $3,449M $3,739M Net Premiums Earned $1,624M $1,741M Combined Ratio 88.6% 99.5% Annual
Slide 7: Insurance
fidelisinsurance.com 51.0% 42.8% 57.9% 45.7% 52.6% 26.3% 27.2% 31.8% 30.5% 30.4% 2022 2023 2024 Q3 2024 YTD Q3 2025 YTD $2,413 $2,960 $3,539 $2,617 $2,775 2022 2023 2024 Q3 2024 YTD Q3 2025 YTD 7 Insurance Note: 1. The Fidelis Partnership commissions are not allocated to the segment level and policy
Slide 8: Reinsurance
fidelisinsurance.com 75.0% 9.3% 15.3% 8.1% 49.9% 22.4% 27.2% 23.6% 23.1% 26.1% 2022 2023 2024 Q3 2024 YTD Q3 2025 YTD $605 $619 $865 $833 $964 2022 2023 2024 Q3 2024 YTD Q3 2025 YTD 8 Reinsurance Note: 1. The Fidelis Partnership commissions are not allocated to the segment level and policy acquisiti
Slide 9: High Quality and Diversified Investment Portfolio
fidelisinsurance.com • Q3 2025 net investment income of $46 million, bringing year-to-date net investment income to $140 million. • Net unrealized gains on other investments of $5 million in Q3 2025 primarily relates to our strategic deployment of assets into alternative investments, including a hed
Slide 10: Strong Capital Position and Disciplined Approach to Capital Allocation
fidelisinsurance.com 10 • Committed to a strategic and disciplined approach to capital allocation to maintain financial strength and drive profitable underwriting • Ample liquidity to pursue growth and return capital to shareholders • Long-term debt comprised of: ◦ $400 million 7.750% Subordinated N
Slide 11: Why Invest in Fidelis Insurance Group
fidelisinsurance.com Why Invest in Fidelis Insurance Group Leader in verticalized specialty insurance and reinsurance market, driving differentiated positioning and preferential rates, terms and conditions Strategic partnerships with experienced underwriters provide reliable access to attractive ris
Slide 12: Appendix
fidelisinsurance.com 12 Appendix
Slide 13: Non-GAAP Financial Measures Reconciliation
fidelisinsurance.com Non-GAAP Financial Measures Reconciliation Three months ended Nine months ended ($ in millions except for share and per share amounts) September 30, 2025 September 30, 2024 September 30, 2025 September 30, 2024 Net income $ 130.5 $ 100.6 $ 107.7 $ 235.5 Adjustment for net realiz
Slide 14: Fidelis Insurance Group contact details
FIDELIS | INSURANCE GROUP fidelisinsurance.com +1441 279 2590 Wellesley House South 4th Floor, 90 Pitts Bay Road, Pembroke HM 08 Bermuda
Fidelis Insurance Holdings — Q3 2025 Earnings Presentation on 6ix