← Pelagos Insurance Capital Ltd
| Annual Trend | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Net income before equity in net income of subsidiaries | $78.3m | $62.3m | $2.1b | $113.3m | $225.5m | |
| Net Income | — | $52.6m | $2.1b | $113.3m | $225.5m | |
| Net Income From Continuing Operations | — | $62.3m | $2.1b | $113.3m | $225.5m | |
| Accretion, amortization and depreciation | — | $3.9m | $300k | ($14.0m) | ($19.2m) | |
| Depreciation | — | $3.9m | $300k | ($14.0m) | ($19.2m) | |
| Deferred tax expense/(benefit) | ($26.4m) | ($10.4m) | ($86.5m) | $9.8m | $8.9m | |
| Deferred Income Tax | — | ($10.4m) | ($86.5m) | $9.8m | $8.9m | |
| Deferred Tax | — | ($10.4m) | ($86.5m) | $9.8m | $8.9m | |
| Earnings (Loss)es From Equity Investments | — | $0 | ($1.7b) | $0 | $0 | |
| Revaluation of The Fidelis Partnership | $0 | $0 | ($1.7b) | $0 | $0 | |
| Share compensation expense | $9.8m | $10.8m | $27.6m | $7.8m | $7.9m | |
| Net realized and unrealized (gain)/loss on investments | — | $26.3m | ($8.6m) | $28.6m | ($22.8m) | |
| Accrued investment income | ($3.0m) | $1.2m | ($16.3m) | ($8.1m) | $7.0m | |
| Premiums and other receivables | ($479.1m) | ($342.0m) | ($321.3m) | ($572.7m) | ($495.6m) | |
| Amounts due from The Fidelis Partnership | $0 | $0 | ($176.2m) | ($37.6m) | $38.6m | |
| Deferred reinsurance premiums | ($261.3m) | ($147.0m) | ($237.7m) | ($360.8m) | ($19.3m) | |
| Reinsurance balances recoverable on paid losses | ($156.4m) | $89.5m | ($22.5m) | ($103.1m) | ($146.6m) | |
| Reinsurance balances recoverable on reserves for losses and loss adjustment expenses | ($421.9m) | ($195.5m) | ($125.5m) | ($168.5m) | $85.7m | |
| Deferred policy acquisition costs | ($126.8m) | ($112.5m) | ($270.6m) | ($91.3m) | ($207.1m) | |
| Other assets | ($6.6m) | ($3.0m) | $34.6m | ($10.9m) | ($103.6m) | |
| Reserves for losses and loss adjustment expenses | $592.3m | $695.3m | $383.9m | $728.0m | ($582.5m) | |
| Unearned premiums | $708.2m | $504.9m | $530.9m | $502.0m | $733.3m | |
| Reinsurance balances payable | $453.7m | $134.3m | $7.1m | $507.8m | $45.5m | |
| Amounts due to The Fidelis Partnership | $0 | $0 | $334.0m | $56.8m | $59.7m | |
| Other liabilities | ($31.5m) | $23.3m | $16.6m | $31.1m | ($23.7m) | |
| Purchase of available-for-sale securities | ($2.1b) | ($1.6b) | ($2.2b) | ($2.3b) | ($1.8b) | |
| Proceeds from maturities of available-for-sale securities | — | $1.5b | $1.3b | $796.5m | $697.3m | |
| Proceeds from sales of available-for-sale securities | — | $188.5m | $10.8m | $1.2b | $2.0b | |
| Purchase of fixed assets | ($7.1m) | ($18.8m) | ($6.4m) | ($4.6m) | ($1.2m) | |
| Repurchase of common shares | ($320.9m) | $0 | $0 | ($105.5m) | ($261.4m) | |
| Repurchase of preferred securities | — | — | $0 | $0 | ($59.6m) | |
| Proceeds from issuance of common shares, net of issuance costs | $318.2m | $0 | $89.4m | $0 | $0 | |
| Non-controlling interest share transactions | ($6.3m) | ($15.7m) | ($6.1m) | $0 | $0 | |
| Net cash used in disposal of subsidiary | ($7.1m) | $0 | ($105.5m) | $0 | $0 | |
| Beginning Cash Position | — | $476.0m | $1.4b | $964.1m | $946.6m | |
| Cash Flow From Continuing Financing Activities | — | ($16.2m) | ($106.9m) | ($153.9m) | $19.8m | |
| Cash Flow From Continuing Investing Activities | — | $215.9m | ($834.9m) | ($475.8m) | $682.7m | |
| Change In Account Payable | — | $134.3m | $7.1m | $507.8m | $45.5m | |
| Change In Other Current Assets | — | ($3.0m) | $34.6m | ($10.9m) | ($103.6m) | |
| Change In Other Current Liabilities | — | $23.3m | $16.6m | $31.1m | ($23.7m) | |
| Change In Other Working Capital | — | ($147.0m) | ($237.7m) | ($360.8m) | ($19.3m) | |
| Change In Payable | — | $134.3m | $341.1m | $564.6m | $105.2m | |
| Change In Payables And Accrued Expense | — | $134.3m | $341.1m | $564.6m | $105.2m | |
| Change In Receivables | — | ($448.0m) | ($645.5m) | ($881.9m) | ($517.9m) | |
| Change In Working Capital | — | $648.5m | $137.0m | $472.7m | ($608.6m) | |
| Changes In Account Receivables | — | ($448.0m) | ($469.3m) | ($844.3m) | ($556.5m) | |
| Changes In Cash | — | $941.1m | ($446.6m) | ($11.5m) | $294.2m | |
| End Cash Position | — | $1.4b | $964.1m | $946.6m | $1.2b | |
| Financing Cash Flow | — | ($16.2m) | ($106.9m) | ($153.9m) | $19.8m | |
| Free Cash Flow | — | $722.6m | $488.8m | $613.6m | ($409.5m) | |
| Gain Loss On Investment Securities | — | $26.3m | ($8.6m) | $28.6m | ($22.8m) | |
| Investing Cash Flow | — | $215.9m | ($834.9m) | ($475.8m) | $682.7m | |
| Issuance Of Capital Stock | — | $0 | $89.4m | $0 | $0 | |
| Net Business Purchase And Sale | ($7.1m) | $0 | — | — | — | |
| Net PPE Purchase And Sale | — | ($18.8m) | ($6.4m) | ($4.6m) | ($1.2m) | |
| Net Preferred Stock Issuance | — | $0 | $0 | $0 | ($59.6m) | |
| Operating Gains Losses | — | $26.3m | ($1.7b) | $28.6m | ($22.8m) | |
| Preferred Stock Payments | — | $0 | $0 | $0 | ($59.6m) | |
| Purchase Of Business | ($7.1m) | $0 | — | — | — | |
| Purchase Of PPE | — | ($18.8m) | ($6.4m) | ($4.6m) | ($1.2m) | |
| Repurchase Of Capital Stock | — | $0 | $0 | ($105.5m) | ($321.0m) | |
| Stock Based Compensation | — | $10.8m | $27.6m | $7.8m | $7.9m | |
| Unrealized Gain Loss On Investment Securities | ($12.1m) | $11.8m | ($3.6m) | — | — | |
| Net cash provided by/(used in) operating activities | $345.8m | $741.4m | $495.2m | $618.2m | ($408.3m) | |
| Capital Expenditure | — | ($18.8m) | ($6.4m) | ($4.6m) | ($1.2m) | |
| Purchase of other investments | ($125.2m) | ($100.0m) | $0 | ($200.0m) | ($272.0m) | |
| Net Investment Purchase And Sale | — | $234.7m | ($828.5m) | ($471.2m) | $683.9m | |
| Purchase Of Investment | — | ($1.7b) | ($2.2b) | ($2.5b) | ($2.0b) | |
| Proceeds from sale of other investments | $1.3m | $223.9m | $75.2m | $47.3m | $0 | |
| Sale Of Investment | — | $1.9b | $1.4b | $2.1b | $2.7b | |
| Net cash provided by/(used in) investing activities | ($1.1b) | $215.9m | ($834.9m) | ($475.8m) | $682.7m | |
| Proceeds from issuance of debt, net of issuance costs | — | — | $0 | $0 | $393.3m | |
| Issuance Of Debt | — | $0 | $0 | $0 | $393.3m | |
| Long Term Debt Issuance | — | $0 | $0 | $0 | $393.3m | |
| Net Issuance Payments Of Debt | — | $0 | $0 | $0 | $393.3m | |
| Common Stock Issuance | — | $0 | $89.4m | $0 | $0 | |
| Net Common Stock Issuance | — | $0 | $89.4m | ($105.5m) | ($261.4m) | |
| Common Stock Payments | — | $0 | $0 | ($105.5m) | ($261.4m) | |
| Dividends on common shares | ($2.1m) | ($500k) | $0 | ($46.2m) | ($52.3m) | |
| Cumulative dividends on warrants | $0 | $0 | ($34.1m) | $0 | $0 | |
| Cash Dividends Paid | — | ($500k) | $0 | ($46.2m) | ($52.3m) | |
| Common Stock Dividend Paid | — | ($500k) | $0 | ($46.2m) | ($52.3m) | |
| Net Other Financing Charges | — | ($15.7m) | ($196.3m) | ($2.2m) | ($200k) | |
| Net cash provided by/(used in) financing activities | ($18.2m) | ($16.2m) | ($106.9m) | ($153.9m) | $19.8m | |
| Effect of exchange rate changes on foreign currency cash | ($4.6m) | ($9.2m) | $2.8m | ($6.0m) | $6.8m | |
| Effect Of Exchange Rate Changes | — | ($9.2m) | $2.8m | ($6.0m) | $6.8m | |
| Net increase/(decrease) in cash, restricted cash, and cash equivalents | ($762.5m) | $931.9m | ($443.8m) | ($17.5m) | $301.0m | |
| Cash, restricted cash, and cash equivalents, beginning of year | $476.0m | $1.4b | $964.1m | $946.6m | $1.2b | |
| Change In Cash Supplemental As Reported | — | $931.9m | ($443.8m) | ($17.5m) | $301.0m | |
| Cash paid during the year for interest | $29.3m | $29.6m | $29.7m | $29.6m | $42.6m | |
| Tax paid on withholding shares | $0 | $0 | ($50.6m) | ($2.2m) | ($200k) |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.