Fidelis Insurance Holdings Limited (FIHL) IPO Stocks Price,News,Date& information

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Fidelis Insurance Holdings Limited Description

With operations in Bermuda, Ireland, and the UK, Fidelis is a top provider of specialised and bespoke insurance products as well as property reinsurance.

With GPW of $3 billion, total revenues of $1.5 billion, and a net income of $62.3 million for the year ended December 31, 2022, Fidelis has built up a diverse worldwide book of (re)insurance business since its foundation and grown to become a scaled-up speciality (re)insurer.

The company that owns Fidelis Insurance Group, Fidelis Insurance Holdings Limited (FIHL), has started its initial public offering of 17 million common shares using a prospectus.

According to a press statement from FIHL, the offering consists of 5,714,286 common shares that the firm is offering and 11,285,714 common shares that some of the company’s current owners will be selling.

A 30-day option to purchase an additional 2,550,000 common shares from the selling stockholders will also be given to the underwriters. The current expectation for the IPO price per common share is between US$16 and US$19.

The Separation Transactions were finished on January 3, 2023, resulting in the formation of FIHL and MGU HoldCo, two separate holding corporations and enterprises. The issuer of the Common Shares sold by the Selling Shareholders in this offering is FIHL, the parent holding company of Current Fidelis, which also retains ownership of all of Current Fidelis’ insurance operational subsidiaries.

Current Fidelis also has its own service company, FIHL (UK) Services Limited, with a branch in Ireland.

Fidelis Insurance Holdings Limited

CountryBermuda
Founded2014
IPO DateJun 29, 2023
IndustryInsurance – Reinsurance
SectorFinancials
Employees51
CEODaniel Burrows

Contact Details

Address:Waterloo House, 100 Pitts Bay Road
Pembroke, HM08
Bermuda
Phone+1 441 279 2500
Websitefidelisinsurance.com

Fidelis Insurance Holdings Limited Stock Details

Ticker SymbolFIHL
ExchangeNYSE
Fiscal YearJanuary – December
Reporting CurrencyUSD
CIK Code0001636639
SIC Code6331

Fidelis Insurance Holdings Limited Key Executives

NamePosition
Helena MorrisseyChair and Non-Executive Director
Daniel BurrowsGroup Chief Executive Officer and Executive Director
Allan DecleirGroup Chief Financial Officer and Executive Director
Daniel BrandNon-Executive Director
Cathy IbergNon-Executive Director
Daniel KilpatrickNon-Executive Director
Dana LaForgeNon-Executive Director
Hinal PatelFidelis MGU Nominee and Non-Executive Director
Warrick BeaverGroup Chief People Officer
Denise Brown-BranchGroup Chief Operating Officer

Income Statement (Annual)

Millions USD. Fiscal year is Jan – Dec.TTMMillionsExport

Year202220212020
Revenue1,520.41,189.3782.6
Revenue Growth (YoY)27.84%51.97%
Gross Profit1,520.41,189.3782.6
Selling, General & Admin106.475.483.5
Other Operating Expenses1,333.91,035.2575.6
Operating Expenses1,440.31,110.6659.1
Operating Income80.178.7123.5
Pretax Income70.468.7123.4
Income Tax17.80.4-3.1
Net Income62.378.3126.6
Net Income Common52.668.3126.5
Net Income Growth-22.99%-46.01%
Gross Margin100.00%100.00%100.00%
Operating Margin5.27%6.62%15.78%
Profit Margin3.46%5.74%16.16%
Free Cash Flow Margin47.63%30.32%40.14%
Effective Tax Rate25.28%0.58%-2.51%
EBITDA8483.2126.1
EBITDA Margin5.52%7.00%16.11%
Depreciation & Amortization3.94.52.6
EBIT80.178.7123.5
EBIT Margin5.27%6.62%15.78%

Balance Sheet (Annual)

Millions USD. Fiscal year is Jan – Dec.TTMMillionsExport

Year20222021
Cash & Equivalents1,407.9476
Cash & Cash Equivalents1,407.9476
Cash Growth195.78%
Long-Term Investments2,4252,782.6
Goodwill and Intangibles37.423.6
Other Long-Term Assets5,850.14,246.8
Total Long-Term Assets8,312.57,053
Total Assets8,312.57,053
Long-Term Debt476478.3
Other Long-Term Liabilities5,849.44,555.6
Total Long-Term Liabilities6,325.45,033.9
Total Liabilities6,325.45,033.9
Total Debt476478.3
Debt Growth-0.48%
Common Stock2,087.42,082.5
Retained Earnings0.5-52.1
Comprehensive Income-100.8-11.3
Shareholders’ Equity1,987.12,019.1
Net Cash / Debt931.9-2.3

Cash Flow Statement (Annual)

Millions USD. Fiscal year is Jan – Dec.TTMMillionsExport

Year202220212020
Net Income52.668.3126.5
Depreciation & Amortization3.94.52.6
Share-Based Compensation10.89.832.6
Other Operating Activities665.9275.1154.3
Operating Cash Flow742.9367.7316.1
Operating Cash Flow Growth102.04%16.32%
Capital Expenditures-18.8-7.1-2
Change in Investments233.2-1,100.3-479.3
Other Investing Activities-7.1
Investing Cash Flow214.4-1,114.5-481.3
Dividends Paid-0.5-2.1-5.1
Share Issuance / Repurchase-15.7-9507.4
Debt Issued / Paid445.7
Financing Cash Flow-16.2-11.1948
Net Cash Flow931.9-762.5787.6
Free Cash Flow724.1360.6314.1
Free Cash Flow Growth100.80%14.80%
Free Cash Flow Margin47.63%30.32%40.14%

Ratios and Metrics (Annual)

Millions USD. Fiscal year is Jan – Dec.CurrentMillionsExport

YearCurrent20222021
Market Capitalization2,039
Enterprise Value1,107
Debt / Equity Ratio0.240.240.24
Debt / EBITDA Ratio5.675.675.75
Debt / FCF Ratio0.660.661.33

Total Valuation

FIHL has a market cap or net worth of $2.04 billion. The enterprise value is $1.11 billion.

Market Cap2.04B
Enterprise Value1.11B

Important Dates

Earnings Daten/a
Ex-Dividend Daten/a

Share Statistics

FIHL has 116.49 million shares outstanding.

Shares Outstanding116.49M
Shares Change (YoY)n/a
Shares Change (QoQ)n/a
Owned by Insiders (%)n/a
Owned by Institutions (%)n/a
Floatn/a

Enterprise Valuation

The stock’s EV/EBITDA ratio is 13.17, with an EV/FCF ratio of 1.53.

EV / Earnings21.04
EV / Sales0.73
EV / EBITDA13.17
EV / EBIT13.82
EV / FCF1.53

Financial Position

Current Ration/a
Quick Ration/a
Debt / Equity0.24
Debt / EBITDA5.67
Debt / FCF0.66
Interest Coveragen/a

Margins

Gross margin is 100.00%, with operating and profit margins of 5.27% and 3.46%.

Gross Margin100.00%
Operating Margin5.27%
Pretax Margin4.63%
Profit Margin3.46%
EBITDA Margin5.52%
EBIT Margin5.27%
FCF Margin47.63%

Dividends & Yields

FIHL does not appear to pay any dividends at this time.

Dividend Per Sharen/a
Dividend Yieldn/a
Earnings Yield2.58%
FCF Yield35.52%
Dividend Growth (YoY)n/a
Payout Ration/a
Buyback Yieldn/a
Shareholder Yieldn/a

Analyst Forecast

Price Targetn/a
Price Target Differencen/a
Analyst Consensusn/a
Analyst Countn/a
Revenue Growth Forecast (5Y)n/a
EPS Growth Forecast (5Y)n/a

Stock Splits

This stock does not have any record of stock splits.

Last Split Daten/a
Split Typen/a
Split Ration/a

FAQ

What are 3 bids in IPO?

In a book-building IPO, where the price range is set by the issuing company, an investor can place up to 3 bids. The investor has the option to submit bids with three different price and quantity combinations – Bid1, Bid2 and Bid3.

What is cut-off in IPO bid?

he offer price at which shares are issued to investors in an IPO is known as the cut-off price, which can be any price within the specified price band. For this particular IPO displayed in the below image, the issue price range is 72-76.

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