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Fidelis Raises $185M of Capital, Bringing 2020 Total to More than $1.3B December 10, 2020
Fidelis Insurance Holdings Ltd. announced it has raised in the fourth quarter of 2020 an additional $60 million of equity capital from existing and new investor relationships, including Alfa Insurance and affiliated companies with which Fidelis has a long-standing relationship.
Additionally, the Bermuda-based company has raised $125 million of 6.625% Fixed-Rate Reset Junior Subordinated Notes due 2041 from institutional investors. The notes are redeemable at the option of the company at each interest reset date which occurs every five years. The notes have received Tier 2 capital treatment under the Bermuda Monetary Authority’s Group Supervision Rules.