The Travelers Companies Acquire a Minority Stake in Fidelis

July 15, 2021

Willkie represented Fidelis Insurance Holdings Limited, a leading insurance and reinsurance group, in connection with its third equity capital raise in 12 months.

Willkie represented Fidelis Insurance Holdings Limited, a leading insurance and reinsurance group, in connection with its third equity capital raise in 12 months, implemented by a rights offer and a private placement, with US-listed and international insurance group, The Travelers Companies, Inc. agreeing to take a minority stake in the (re)insurer.

The Travelers Companies, Inc. is a leading provider of property liability insurance for motor, home and business. A component of the Dow Jones Industrial Average, Travelers has approximately 30,000 employees and generated revenues of approximately $32 billion in 2020, with operations in the United States, Canada, UK and Ireland.

Fidelis is a privately owned Bermuda-based holding company which, through its subsidiaries in London, Dublin and Bermuda, is a global provider of property, bespoke and specialty insurance and reinsurance products, and also includes a fee income business, Socium. Fidelis had approximately $4.1 billion in assets under management as of December 31, 2020.

The Willkie team was led by partner Joseph Ferraro and associates David Griffiths, Ida Nizankowska-Polus and Daisy Larcombe in London.