Fidelis Insurance Group posted net income of $19.7 million for the second quarter of 2025, or 18 cents per diluted share, the company announced last week.

Operating net income for the quarter was $13.6 million, despite ongoing headwinds from prior-year reserve developments.

The quarter’s combined ratio was 103.7 per cent, affected by the recent English High Court judgment related to Russia-Ukraine aviation litigation, which contributed to an underwriting loss of $20.6 million.

The firm emphasised that this legacy issue is no longer expected to weigh on future performance.

“Our exposure to the Russia-Ukraine lessor policy aviation litigation is now firmly behind us,” said Dan Burrows, group chief executive. “With any remaining exposure being insignificant, we can now draw a line under this event.”

Looking ahead, Fidelis pointed to strong investment performance and continued capital returns to shareholders.

In Q2 alone, the company returned $99.6 million, including $88.7 million in share repurchases and $10.9 million in dividends.

“We have unwavering confidence in the business we have built,” Mr Burrows told investors on a conference call, “and we are actively managing our portfolio to take advantage of profitable opportunities in what remains an attractive trading environment for market leaders”,

He added: “We do not believe our current stock price properly reflects the value of our platform. This current dislocation provides an excellent opportunity to deliver value to our shareholders in a highly accretive way.”

Fidelis recently renewed its $200 million share repurchase programme and raised its quarterly dividend to 15 cents per share.

Year-to-date, the firm has grown gross premiums written by 9 per cent, with Mr Burrows noting: “Price adequacy remains strong after years of compound increases.

“We are focused on capitalising on the opportunities ahead of us to drive accretive growth and returns.”