Markets/Coverages: Fidelis Partnership Forms PVT Consortium for Rising Capacity Demand
The Fidelis Partnership (TFP), the Bermuda-based managing general agent, announced the launch of the TFP PVT Consortium, which brings together leading Lloyd’s syndicates to deploy meaningful new capacity into the war, terror and political violence (WTPV) market at a time of heightened global demand and significant market dislocation resulting from the Middle East conflict.
TFP’s political violence and terrorism consortium, which was placed by Guy Carpenter, will bring together capacity from leading Lloyd’s syndicates including Argenta, alongside The Fidelis Partnership’s own syndicates, 3123 and 2126.
Following capacity provided from TFP’s cornerstone capacity provider, Pelagos Insurance Capital, the consortium is able to deploy up to $47.5 million per risk in the Middle East and up to $345 million per risk globally — providing clients with meaningful, structured capacity for a highly disrupted market where clients are in urgent need of solutions, TFP said.
TFP has maintained 24/7 availability and supported clients with timely solutions throughout the Middle East conflict, sustaining underwriting discipline and harnessing multiple intelligence and data sources.
The consortium is structured to give partners the benefit of TFP’s geopolitical expertise and underwriting leadership, while enabling the deployment of scaled capacity into a market where client demand is acute and supply is contracting.
The consortium went live on June 1, 2026 and follows a number of new consortia launched across both TFP and its Pine Walk MGA platform, including TFP’s AI data center Construction Consortium and Navium’s Helix Consortium for AI infrastructure cargo risk.
TFP said the consortium’s launch is a reflection of TPF’s commitment to delivering high-conviction, innovative solutions to the market’s most complex capacity needs.
“The launch of the TFP PVT Consortium is a direct expression of our high-conviction approach and our belief that the right response to uncertainty is to lean in, not step back. We believe that losses from the Middle East will significantly shift the wider global WTPV market, and we are committed to remaining open, disciplined and available to clients throughout the conflict,” commented Billy Ayres, head of Underwriting – Crisis Management, TFP.
The consortium brings “together the capacity provided by our cornerstone partner, Pelagos Insurance Capital, complemented by high-quality Lloyd’s capacity behind our underwriting leadership and gives clients certainty at the moment they need it most,” Ayres added. “It also reinforces our commitment to open market underwriting, which delivers transparency around pricing, aggregates, and risk exposure, in contrast to the opacity that can develop within facility-based structures.”
“We’re pleased to support the TFP PVT Consortium at a time when clients are facing heightened uncertainty. The structure brings together strong underwriting leadership and meaningful capacity, helping ensure continued access to cover in a challenging market,” according to Darren Hines, unit head of Terrorism, Argenta.
Jonathan Powell, managing director, Guy Carpenter, said: “Clients are facing urgent and complex capacity needs following the Middle East conflict. Guy Carpenter was pleased to place the TFP PVT Consortium to provide structured, dependable capacity at scale. This collaboration combines underwriting expertise and disciplined risk allocation to help clients manage exposure and maintain business continuity in a fast-changing market.”
The Fidelis Partnership operates two complementary underwriting and origination platforms, Fidelis Underwriting and Pine Walk, to source and underwrite re/insurance risks across specialty, bespoke and reinsurance pillars.
The Fidelis Partnership is separately owned and managed from Pelagos Insurance Capital Ltd. (formerly Fidelis Insurance Group). The Fidelis Partnership’s investors include the TFP team, Capital Z, Travelers, Blackstone and Further Global, among others.
Source: The Fidelis Partnership
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