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TFP Group Eyes US IPO Amid Fall Market Rebound
26 Sep
Summary
- Insurance underwriter TFP Group filed for a US initial public offering.
- TFP reported net income of $127.5 million on revenue of $407.5 million.
- The Hamilton, Bermuda-based company underwrites global specialty insurance.
The insurance underwriter TFP Group, publicly recognized as The Fidelis Partnership, has submitted filings for a U.S. initial public offering. This move occurs as the typically robust fall IPO window shows signs of increased activity after a subdued start. TFP was established as an independent entity in 2023, following a corporate restructuring.
The company, based in Hamilton, Bermuda, engages in the origination and underwriting of specialty insurance products on a global scale, covering over 150 distinct business lines. For the six-month period concluding on June 30, TFP achieved a net income of $127.5 million.
This profit was generated from revenues totaling $407.5 million. In the preceding year, the firm also launched a new syndicate at Lloyd's of London, collaborating with Blackstone. TFP and certain existing shareholders intend to offer shares in the upcoming IPO.
