Our History

Our History

Fidelis Insurance (“Original Fidelis”) was founded in 2014 by Richard, commenced underwriting in 2015 and was built from day one around a philosophy of disciplined, market-leading underwriting across Specialty, Bespoke and Reinsurance pillars.

The Fidelis Partnership was established in January 2023 following the completion of a transaction that saw Original Fidelis bifurcated into (i) a high-growth, highly diversified MGA and risk allocator, The Fidelis Partnership; and (ii) an insurance company, known initially as Fidelis Insurance Group and subsequently rebranded to Pelagos Insurance Capital in May 2026.

Since 2015, we have grown our Written Premium at a compound annual rate of approximately 49%. Our growth has been entirely organic in nature, relying on the creativity, expertise and drive of our teams, rather than acquisitions.

It has been driven by the underwriting track record of our teams, deep relationships with brokers, insureds and Capacity Providers, by the continued expansion of Pine Walk, and by our successful entry into the Lloyd’s market via Syndicate 3123 and Syndicate 2126.

Our financial performance has been exceptional, with Adjusted EBITDA margins consistently over 60% and compound annual revenue growth of 20% since our formation in 2023. Our Adjusted EBITDA for 2025 was over $410 million, with an Adjusted EBITDA margin of 60%.