Fidelis & Travelers Announced Strategic Minority Investment by Travelers in Fidelis

Fidelis Insurance Holdings Limited (“Fidelis”) and The Travelers Companies, Inc. (“Travelers”) announced that Travelers has made a strategic minority investment in Fidelis

• Terms of the investment were not disclosed

Fidelis is a leading privately-owned insurance and reinsurance business based in Bermuda

• Founded in 2014 by Richard Brindle, Chairman, CEO and CUO, who has more than 35 years of industry experience
• Operates a Three Pillar strategy across Bespoke, Reinsurance, and Specialty
• Socium, Fidelis’ fee income business, provides support across all three pillars
• This model provides Fidelis with diversified income steams allowing it to target profitable opportunities across the cycle
• The core operating subsidiaries of Fidelis have a financial strength rating of A (Excellent) by A.M. Best and A- by S&P

Travelers (NYSE: TRV) is a leading provider of property casualty insurance for auto, home and business

• Travelers has approximately 30,000 employees and generated revenues of ~$32 billion in 2020

TCMA acted as exclusive financial advisor to Fidelis; key transaction steps led by TCMA included:

• Initiated discussions between the two parties regarding a strategic minority transaction
• Prepared a detailed valuation analysis to assist in negotiations
• Managed an organized and efficient due diligence process
• Offered key insights around transaction terms and conditions
• Assisted in negotiating final transaction terms
• Provided objective advice and acted as a confidant to Fidelis throughout the process