The Travelers Cos. has made what it calls a “strategic minority investment” in Fidelis Insurance Holdings Limited, a privately owned, Bermuda-based holding company that provides insurance services through its subsidiaries.
Travelers, which is headquartered in New York City and has its largest office in Hartford, announced the deal in a statement released Wednesday. Financial terms of the arrangement were not disclosed.
According to its website, Fidelis offers bespoke and specialty insurance and reinsurance products. It has operations based in Bermuda, London and Dublin.
“We are pleased to invest in a talented and proven management team and look forward to gaining insights from them into the specialty, non-admitted market,” said Greg Toczydlowski, executive vice president and president of business insurance at Travelers. “As an innovative company with a successful track record, Fidelis is an excellent fit for our investment appetite.”
