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- **Revenue Growth**: 15% YoY increase driven by North American market recovery.
- **Profitability**: 79% combined ratio reflects disciplined underwriting.
- **Shareholder Returns**: $15 million in share buybacks with $153 million remaining.
- **AI Strategy**: Continued investment in AI-driven underwriting, expected gross margin improvement, and operational efficiency.
- **Financial Performance**: Non-GAAP EPS of $1.08, GAAP net income of $420 million, and 5% decline in operating expenses.
- **Capital Management**: Focus on strategic growth and returning capital to shareholders.
- **Market Positioning**: Competitive advantage in highly verticalized lines of business.
- **Risk Management**: 23.2% attritional loss ratio, 79% combined ratio, and 16 million in prior year development.
- **Investment Income**: $46 million in net investment income and $5 million in unrealized gains.
- **Tax Management**: Effective tax rate of 18.8% for the year-to-date period.


**【CEO Summary Section】**
- **Revenue Growth**: North American market recovery drove a 15% year-over-year increase in revenue, supported by strategic capital allocation and risk selection.
- **AI Investment**: Continued focus on AI-driven underwriting strategies to enhance efficiency and competitive positioning.
- **Gross Margin Improvement**: Expectations of gross margin expansion in the second half of the year through cost optimization and operational efficiency.

**【CFO Financial Commentary】**
- **GAAP Net Income**: $420 million for the quarter, reflecting strong underwriting performance and capital management.
- **Non-GAAP EPS**: Exceeded expectations at $1.08, driven by disciplined expense control and operational efficiency.
- **Operating Expenses**: 5% year-over-year decline, showcasing cost management efforts.

**【Q&A Highlights】**
- **Market Performance**: CEO emphasized a 79% combined ratio, highlighting disciplined underwriting and risk selection.
- **Share Repurchases**: $15 million in share buybacks post-quarter end, with $153 million remaining under the program.
- **Capital Allocation**: Focus on strategic growth opportunities and returning capital to shareholders through dividends and buybacks.


Fidelis Insurance Holdings Limited (FIHL) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

FIHL

FIHL fundamentals

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