Capacity
Capacity
Our panel of Capacity Providers is diverse. It includes a cornerstone 10 year rolling binder with Pelagos Insurance Capital, Lloyd’s of London Syndicates backed by Lloyd’s Names and Blackstone, 12 Lloyd’s Consortia covering specific lines of business, reinsurance partners and insurance partners. Pelagos Insurance Capital is our cornerstone Capacity Provider.
Our capacity construct allows us to effectively utilise our rules-based risk allocator system, LABRADOR, matching risks to Capacity Providers based on their respective appetite, credit rating, and licensing.
Pelagos Insurance Capital
Pelagos Insurance Capital (previously Fidelis Insurance Group) is a long‑term cornerstone strategic partner providing, multi‑year capacity through a 10‑year rolling binder, giving TFP certainty and stability that traditional annual binders cannot match. This structure ensures a minimum underpinned capacity and an automatic year‑on‑year baseline for financial planning, removing the friction of annual renewals and allowing underwriters to focus purely on origination and underwriting performance.
The Fidelis Partnership Syndicates
The Fidelis Partnership has launched two syndicates in the Lloyd’s market to date, Syndicate 3123 and Syndicate 2126. These provide access to Lloyd’s A+ (AM Best) and AA- (S&P, Kroll and Fitch) credit ratings, global distribution network and universally recognised brand power.
The launch of The Fidelis Partnership Syndicates represents our continued alignment and strong collaborative relationships with world-class capital providers.
Syndicate 3123
We entered the Lloyd’s market in July 2024 with the launch of Syndicate 3123, which is primarily supported by Lloyd’s Names (typically high-net-worth individual investors). Syndicate 3123 was heavily oversubscribed on launch and has grown from a standing start in July 2024 to become one of the largest Names-backed syndicates at Lloyd’s, with approved capacity to write over $1 billion of premiums in 2026.
It underwrites across all of our pillars, utilising both of our underwriting engines, Fidelis Underwriting and Pine Walk.
Syndicate 2126
We launched Syndicate 2126 in January 2026 in partnership with funds managed by Blackstone, the world's largest alternative asset manager. Syndicate 2126 underwrites across similar lines of business as Syndicate 3123, often taking placements on the same insurance risks.
Insurance Partnerships and Consortia
The Fidelis Partnership also writes business for more than 15 insurance partners targeting specific products through Lloyd’s consortia or direct binding authority arrangements. These relationships provide access to unique market opportunities and additional, diversified capacity across specific lines of business, such as Space, Economic-Catastrophe, Casualty, Accident & Health, Data Centre Construction, Contingency and Property Treaty.
Reinsurance Partners
We maintain deep, longstanding relationships with over 60 reinsurers that provide quota-share and excess of loss reinsurance protection to Pelagos Insurance Capital, Syndicate 3123 and Syndicate 2126, supporting over $1 billion+ of GWP and providing flexible capacity that complements our other sources.