Fidelis Insurance: Attractive Valuation As One-Time Pressures Pass

  • FIHL shares are deeply undervalued due to one-off Russia-Ukraine and wildfire losses, offering significant upside as these issues resolve. Core insurance and reinsurance businesses remain strong, with solid underwriting, pricing power, and a robust balance sheet supporting continued capital returns. Rising catastrophe losses are offset by higher premiums and limited reinsurance capital, enhancing future profitability and margin resilience.