Pelagos Insurance Capital Rebranding Marks a New Chapter in Insurance
Pelagos Insurance Capital Limited, previously known as Fidelis Insurance Holdings, has officially completed its rebranding, with the change taking effect on May 11, 2026. This transition concludes a transformative period for the Bermuda-headquartered company, following shareholder approval at the annual general meeting on April 28. The new ticker symbol, "PLGO," will replace "FIHL" on the New York Stock Exchange starting May 12, 2026.
The decision to rebrand from Fidelis to Pelagos Insurance was initially announced in February, accompanying the company's full-year 2025 financial results. Company leadership has assured that the rebrand will not impact regulatory approvals, operational frameworks, or existing business relationships. Throughout 2026, subsidiary entities will align under the new Pelagos Insurance Capital brand.
The rebranding effort is coupled with significant improvements in underwriting performance, a pivotal aspect of the company's narrative. Pelagos reported a net income of $225.5 million for 2025, a notable increase from $113.3 million in 2024. This was driven by reductions in earlier catastrophe reserve estimates, leading to a fourth-quarter loss ratio decline to 52.2% from 88.4% the previous year.
In addition to enhanced underwriting, the company’s investment portfolio yielded a 4.4% annualized return for 2025, up from 3.5% in 2024, producing a net investment return of $206.8 million. This reflects the company's strategic focus on maximizing returns through prudent risk management and capital allocation.
Dan Burrows, Group CEO, noted the rebrand as a symbol of the firm’s evolution since its 2023 NYSE debut. He stated, "Our new name, Pelagos Insurance Capital, marks an exciting milestone. It captures what we've built, how we create value, and where we're going." This rebranding underscores Pelagos's role as a bridge between capital and risk, connecting with specialized partners in global underwriting markets.
While the corporate name has changed, operational aspects remain steady. Burrows emphasized, "The same team and expertise, the same capital strength and underwriting strategy, and the same commitments to our clients, brokers, and shareholders." As Pelagos steps into 2026, they are poised to identify profitable underwriting opportunities, underpinned by strategic capital management and careful risk assessment.
Pelagos Insurance Capital plans to release its first-quarter 2026 financial results following the market close on May 13, 2026, continuing to showcase their financial health and strategic advancements.