Fidelis Insurance Group Sponsors New Herbie Re Ltd. Catastrophe Bond
Fidelis Insurance Holdings Limited (NYSE:FIHL) (“Fidelis Insurance Group” or “the Company”) announced today that Fidelis Insurance Bermuda Limited (“FIBL”) has successfully closed a new catastrophe bond through the issuance of the Series 2024-1 Class A Principal at Risk Variable Rate Notes and the Series 2024-1 Class B Principal at Risk Variable Rate Notes (together, the “Series 2024-1 Notes”) by its Herbie Re Ltd. program (“Herbie Re”).
- Fidelis Insurance Holdings Limited (NYSE:FIHL) (“Fidelis Insurance Group” or “the Company”) announced today that Fidelis Insurance Bermuda Limited (“FIBL”) has successfully closed a new catastrophe bond through the issuance of the Series 2024-1 Class A Principal at Risk Variable Rate Notes and the Series 2024-1 Class B Principal at Risk Variable Rate Notes (together, the “Series 2024-1 Notes”) by its Herbie Re Ltd. program (“Herbie Re”).
- This is the fifth series of notes issued by Herbie Re and will provide the Fidelis Insurance Group with $150 million of collateralized reinsurance protection.
- Ian Houston, Fidelis Insurance Group Chief Underwriting Officer, said “Fidelis Insurance Group is excited to have in place the latest issuance under the Herbie Re Catastrophe Bond program.
- Willkie Farr & Gallagher (UK) LLP advised as counsel for Fidelis Insurance Group and Herbie Re.