The Fidelis Partnership has launched a new consortium to deploy additional capacity into the war, terror and political violence market, responding to increased demand and market disruption linked to the Middle East conflict.
The TFP PVT Consortium, placed by Guy Carpenter, brings together capacity from Lloyd's syndicates including Argenta alongside The Fidelis Partnership's own Syndicates 3123 and 2126. Backed by Pelagos Insurance Capital, the consortium can deploy up to US$47.5m per risk in the Middle East and up to US$345m per risk globally.
Billy Ayres, head of underwriting, crisis management, at The Fidelis Partnership commented: "The launch of the TFP PVT Consortium is a direct expression of our high-conviction approach and our belief that the right response to uncertainty is to lean in, not step back. We believe that losses from the Middle East will significantly shift the wider global WTPV market, and we are committed to remaining open, disciplined and available to clients throughout the conflict.”
Darren Hines, unit head of terrorism, Argenta, added: “We’re pleased to support the TFP PVT Consortium at a time when clients are facing heightened uncertainty. The structure brings together strong underwriting leadership and meaningful capacity, helping ensure continued access to cover in a challenging market.”
The consortium went live this week.
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