Pelagos Insurance Capital
Allocates capital across specialty insurance and property reinsurance through specialist underwriting partners.
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Profile
Writes specialty insurance across property, marine, credit, aviation, cyber and other complex risks, while providing global property reinsurance and limited retrocession. Premiums and invested assets fund returns, with much of origination, underwriting administration and claims handling delegated to The Fidelis Partnership.
Underwrites specialty insurance across property, marine, asset-backed finance and portfolio credit, aviation and aerospace, energy, cyber, political risk, violence and terror, plus other niche risks. A separate reinsurance segment provides global property capacity and limited retrocession on proportional and excess-of-loss terms. Operations span Bermuda, the United Kingdom and Ireland, with additional market access through participation at Lloyd's.
Earns primarily from premiums retained after purchasing reinsurance, supplemented by returns on invested assets. Capital moves among insurance and reinsurance opportunities as pricing and loss conditions change, while specialist lines spread exposure across industries and regions. The operating model separates risk-bearing capital from much of underwriting execution: The Fidelis Partnership manages origination, underwriting, administration, outwards reinsurance and claims under long-term delegated-authority agreements.
Company facts
Key statistics
Year to date +19.0% · Average volume (30d) 468.3K
Analysts
No analyst consensus on record.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| May 13, 2026Q1 FY26 | $0.75 | −$0.41 | −154.7% | $903.2M | $610.5M | −32.4% | +15.91% |
| Feb 25, 2026Q4 FY25 | $1.06 | $1.09 | +2.8% | $725.3M | $978.2M | +34.9% | −4.23% |
| Nov 12, 2025Q3 FY25 | $1.21 | $1.21 | 0.0% | $676.8M | $650.2M | −3.9% | −2.40% |
| Aug 13, 2025Q2 FY25 | −$0.12 | $0.12 | +200.0% | $739.5M | $583.5M | −21.1% | −1.89% |
Financial highlights
| 12 quarters | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $680.3M | $577.5M | $591.3M | $650.2M | $600.9M | $610.5M | |
| Gross profit | −$108.2M | −$19.6M | $55.0M | $203.1M | $417.7M | $147.4M | |
| Operating income | −$139.5M | −$50.3M | $22.2M | $160.8M | $142.9M | $103.1M | |
| Net income | −$122.2M | −$42.5M | $19.7M | $130.5M | $117.8M | $108.0M | |
| Diluted EPS | −$1.09 | −$0.38 | $0.18 | $1.24 | $1.17 | $1.15 | |
| Gross margin | -15.9% | -3.4% | 9.3% | 31.2% | 69.5% | 24.1% | |
| Operating margin | -20.5% | -8.7% | 3.8% | 24.7% | 23.8% | 16.9% |
Fiscal years (4-quarter sums)FY22 $3.14B · FY23 $3.59B · FY24 $2.34B · FY25 $2.42B
Revenue by product · FY25
Balance sheet, Mar 31, 2026Cash & short-term investments $3.73B · Total debt $843.5M · Total assets $13.71B · Shareholders' equity $2.25B
Dividends
Last raised to $0.15 from $0.10 in Sep 2025. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 15, 2026 | Jun 15 | Jun 26 | $0.15 | |
| Mar 16, 2026 | Mar 16 | Mar 27 | $0.15 | |
| Dec 10, 2025 | Dec 10 | Dec 23 | $0.15 | |
| Sep 16, 2025 | Sep 16 | Sep 26 | $0.15 | raised from $0.10 |
| Jun 16, 2025 | Jun 16 | Jun 27 | $0.10 | |
| Mar 12, 2025 | Mar 12 | Mar 27 | $0.10 | |
| Nov 29, 2024 | Nov 29 | Dec 20 | $0.10 | |
| Sep 16, 2024 | Sep 16 | Sep 30 | $0.10 |
Ownership
Shares outstanding 106.16M · Float 49.90M
This issuer lists more than one class and the share count spans them all, so a stake here reads as a share of the whole company, not of this class.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % of company | Form | Filed |
|---|---|---|---|---|
| Crestview, L.L.C. | 14.25M | 13.80% of class | 13G | Feb 17, 2026 |
| Shelf Holdco II Ltd | 10.35M | 9.40% of class | 13G | Jul 10, 2025 |
| Crestview Partners Iii GP, L.P. | 9.74M | 9.17% | 13F | May 14, 2026 |
| Cooperman Leon G. | 7.98M | 9.20% of class | 13G | May 13, 2026 |
| Pine Brook Road Advisors, L.P. | 7.21M | 8.40% of class | 13G | Apr 24, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
View detailsPeers
- AXIS Capital
Bermuda specialty insurer/reinsurer across overlapping short-tail lines
- Arch Capital Group
Global specialty insurance and reinsurance platform at larger scale
- Everest Group
Large reinsurance and global wholesale specialty underwriter
- RenaissanceRe
Reinsurance-first peer with capital-partner capacity
- Hamilton Insurance Group
Bermuda specialty insurer/reinsurer with aligned platform mix
- SiriusPoint
Specialty underwriter using insurance, reinsurance and MGA channels
- Kinsale Capital Group
U.S. E&S specialty insurer for hard-to-place commercial risks
- Markel Group
Global specialty insurer, with reinsurance overlap reduced after run-off
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Pelagos Insurance Capital | $23.06 | −0.82% | $2.45B | 6.2 | 6.0 | 1.0 | +5.7% |
| AXIS Capital | $99.52 | 0.00% | $7.26B | 6.3 | 7.6 | 1.1 | +7.4% |
| Arch Capital Group | $97.15 | −1.71% | $34.53B | 7.7 | 10.5 | 1.8 | −22.3% |
| Everest Group | $377.61 | −0.02% | $14.94B | 8.0 | 6.9 | 0.9 | −10.1% |
| RenaissanceRe | $330.74 | +0.01% | $13.74B | 5.7 | 8.3 | 1.3 | −28.5% |
| Hamilton Insurance Group | $35.35 | 0.00% | $3.53B | 6.1 | 8.0 | 1.2 | +12.2% |
| SiriusPoint | $24.18 | −0.04% | $2.81B | 6.0 | 9.1 | 0.9 | +30.7% |
| Kinsale Capital Group | $385.00 | +1.13% | $8.67B | 15.4 | 18.1 | 4.3 | −3.7% |
| Markel Group | $1,818.69 | −0.07% | $22.53B | 10.0 | 15.8 | 1.3 | +17.6% |
| Median | 7.0 | 8.7 | 1.2 | +1.8% |