Fidelis UW gain up 7% to $80mn in Q3 as CR worsens 200 bps on higher cats, lower PPD

Fidelis Insurance Group’s third quarter underwriting gain grew by 7 percent to $80mn, powered by a 24 percent surge in net earned premiums, as higher catastrophe losses and lower favourable reserve development pushed its combined ratio up 200 basis points to 87.4 percent.