This placement, secured through Lloyd’s Syndicate 3123, marks a significant milestone for Fidelis.

The IGPIA, a collective of 13 mutual insurance associations, provides crucial protection and indemnity (P&I) coverage to approximately 90% of the world’s ocean-going vessels. This $3.1 billion excess-of-loss reinsurance contract is the largest of its kind globally in the marine liabilities market. Notably, Fidelis’s participation represents the first private placement in the IGPIA’s history to be written in Lloyd’s.

Fidelis achieved a significant milestone in 2023 by becoming the first MGU to gain counterparty approval from the IGPIA, underscoring its expertise in underwriting complex marine risks. This placement further solidifies this position and builds upon the successful launch of The Fidelis Partnership Syndicate in 2024, marking the return of founder and CEO Richard Brindle to the Lloyd’s market after a 26-year absence.

“We are extremely pleased to support the IGPIA on this prestigious reinsurance program and to write this business in the Lloyd’s market,” said Daniel O’Connell, Active Underwriter at The Fidelis Partnership Syndicate. “The IGPIA’s rigorous assessment process emphasises carriers’ reputation, financial strength, and deep understanding of underlying risks. This landmark placement is a testament to The Fidelis Partnership’s underwriting track record and the high value placed by clients on the strong credit quality, marine insurance heritage, and value-add represented by Lloyd’s.”

Mike Hall, Chair of the IG’s Reinsurance Committee, stated, “The IG has maintained a long-standing and strong relationship with The Fidelis Partnership for many years. This placement further strengthens that relationship.”