The Fidelis Partnership launches PVT Consortium in response to global market impact of Middle East conflict
The Fidelis Partnership ("TFP") is pleased to announce the launch of the TFP PVT Consortium, which brings together leading Lloyd's syndicates to deploy meaningful new capacity into the War, Terror and Political Violence ("WTPV") market at a time of heightened global demand and significant market dislocation resulting from the Middle East conflict.
The Consortium, placed by Guy Carpenter, will bring together capacity from leading Lloyd's Syndicates including Argenta, alongside The Fidelis Partnership's own Syndicates, 3123 and 2126. Following capacity provided from TFP's cornerstone capacity provider, Pelagos Insurance Capital, the Consortium is able to deploy up to $47.5 million per risk in the Middle East and up to $345 million per risk globally — providing clients with meaningful, structured capacity for a highly disrupted market where clients are in urgent need of solutions.
The launch reflects TFP's track record of outperformance in PVT underwriting, demonstrated most recently by its differentiated response to the ongoing conflict in the Middle East. TFP has maintained 24/7 availability and supported clients with timely solutions throughout — sustaining underwriting discipline and harnessing multiple intelligence and data sources.
The Consortium is structured to give partners the benefit of TFP's geopolitical expertise and underwriting leadership, while enabling the deployment of scaled capacity into a market where client demand is acute and supply is contracting.
The Consortium went live on 1 June 2026 and follows a number of new consortia launched across both TFP and its Pine Walk MGA platform, including TFP’s AI data centre Construction Consortium and Navium’s Helix Consortium for AI infrastructure cargo risk. Its launch is a reflection of TPF’s commitment to delivering high-conviction, innovative solutions to the market’s most complex capacity needs.
Billy Ayres, Head of Underwriting – Crisis Management, The Fidelis Partnership commented: "The launch of the TFP PVT Consortium is a direct expression of our high-conviction approach and our belief that the right response to uncertainty is to lean in, not step back. We believe that losses from the Middle East will significantly shift the wider global WTPV market, and we are committed to remaining open, disciplined and available to clients throughout the conflict. This Consortium is a demonstration of that commitment. It brings together the capacity provided by our cornerstone partner, Pelagos Insurance Capital, complemented by high-quality Lloyd's capacity behind our underwriting leadership and gives clients certainty at the moment they need it most. It also reinforces our commitment to open market underwriting, which delivers transparency around pricing, aggregates, and risk exposure, in contrast to the opacity that can develop within facility-based structures.”
Darren Hines, Unit Head of Terrorism, Argenta, said: “We’re pleased to support the TFP PVT Consortium at a time when clients are facing heightened uncertainty. The structure brings together strong underwriting leadership and meaningful capacity, helping ensure continued access to cover in a challenging market.”
Jonathan Powell, Managing Director, Guy Carpenter said: “Clients are facing urgent and complex capacity needs following the Middle East conflict. Guy Carpenter was pleased to place the TFP PVT Consortium to provide structured, dependable capacity at scale. This collaboration combines underwriting expertise and disciplined risk allocation to help clients manage exposure and maintain business continuity in a fast-changing market.”