The Fidelis Partnership files for US IPO

The Fidelis Partnership, also known as TFP Group, has filed for an initial public offering (IPO) in the United States. The Bermuda-based specialty insurance and reinsurance underwriter plans to list its shares on the New York Stock Exchange under the ticker symbol ‘TFP’.

Established as an independent entity in 2023 following the separation of Fidelis Insurance, the company operates globally across more than 150 business lines in over 140 countries, including through platforms at Lloyd’s of London. For the six months ending June 30, TFP reported revenue of $407.5 million, up from $365.9 million in the previous year, while net income rose to $127.5 million from $74.5 million.

Major institutional investors backing the company include Blackstone, Travelers Companies, Alfa Insurance, and Capital Z Partners. The offering will be supported by underwriters including Morgan Stanley, Barclays, and JPMorgan. The filing has not yet specified the number of shares to be offered or the expected price range.