Key facts
- Fidelis Partnership, also known as TFP Group, filed for a US IPO on Friday.
- The company plans to list on the New York Stock Exchange under the symbol "TFP."
- TFP Group and some existing shareholders will sell shares in the offering.
- Morgan Stanley, Barclays, and J.P. Morgan are among the underwriters.
Fidelis Partnership, operating as TFP Group, has filed for an initial public offering in the United States, according to a filing on Friday. The company intends to list on the New York Stock Exchange under the ticker symbol "TFP." TFP Group and some of its existing shareholders plan to offer shares in the IPO. Morgan Stanley, Barclays, and J.P. Morgan are among the selected underwriters for the offering.
Fidelis Partnership positions itself as a diversified lead underwriter and risk allocator with a 40-year track record. The company reported $5.4 billion in written premium for the year ended December 31, 2025, across Fidelis Underwriting and its MGA incubator, Pine Walk. Pine Walk contributed $1.2 billion in written premium. Adjusted EBITDA for the same period was $411 million, with EBITDA margins of 60%. The firm underwrites over 150 lines of business in more than 140 countries and has long-term capacity agreements, including a 10-year rolling binder with Pelagos Insurance Capital, Lloyd’s Syndicate 3123, and Lloyd’s Syndicate 2126 backed by Blackstone. The company also maintains relationships with over 50 global reinsurers and 15 insurers, including 12 Lloyd's Consortia. Fidelis Partnership emphasizes its use of proprietary technology and AI for risk allocation and has offices in Bermuda, London, Dublin, Abu Dhabi, and Miami.