Fidelis Insurance Group Declares Quarterly Dividend and Announces New Share Repurchase Authorization
August 14 2024 - 4:15PM
Business Wire
Fidelis Insurance Holdings Limited (NYSE:FIHL) (“Fidelis
Insurance Group” or “the Company”), a global specialty insurer,
announced today that its Board of Directors has approved and
declared a dividend of $0.10 per share, payable on September 30,
2024, to common shareholders of record on September 16, 2024.
In addition, the Board of Directors approved a new share
repurchase program (the “Program”), authorizing the Company to
purchase up to an aggregate $200 million of the Company's
shares.
Pursuant to the Program, the Company may repurchase shares
through open market purchases under Rule 10b-18 under the
Securities Exchange Act of 1934, as amended (the “Exchange Act”),
accelerated share repurchases or privately negotiated transactions,
as well as pursuant to a trading plan meeting the requirements of
Rule 10b5-1 under the Exchange Act.
The timing, as well as the number and value of common shares
repurchased under the Program, will be determined by the Company at
its discretion and will depend on a variety of factors, including
its assessment of the intrinsic value of the Company’s common
shares, attractive growth opportunities, the market price of the
Company’s common shares, general market and economic conditions,
available liquidity, compliance with the Company’s debt and other
agreements, applicable legal, regulatory and contractual
restrictions and the Company’s capital and business strategy. The
Program may be suspended or discontinued by the Board of Directors
at any time.
About Fidelis Insurance Group
Fidelis Insurance Group is a global specialty insurer,
leveraging strategic partnerships to offer innovative and tailored
insurance solutions.
We have a highly diversified portfolio focused on three
segments: Specialty, Bespoke, and Reinsurance, which we believe
allows us to take advantage of the opportunities presented by
evolving (re)insurance markets, proactively shift our business mix
across market cycles, and produce superior underwriting
returns.
Headquartered in Bermuda, with worldwide offices including
Ireland and the UK, Fidelis Insurance Group operating companies
have a financial strength rating of A from AM Best, A- from S&P
and A3 from Moody’s. For additional information about Fidelis
Insurance, our people, and our products please visit our website at
www.FidelisInsurance.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240814210368/en/
Fidelis Insurance Group Investor Contact: Fidelis
Insurance Group Miranda Hunter (441) 279 2561
miranda.hunter@fidelisinsurance.com Fidelis Insurance Group
Media Contacts: Rein4ce Sarah Hills +44 (0)7718 882011
sarah.hills@rein4ce.co.uk
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