Strategic partnership to advance mortgage reinsurance with forecasted premiums in 2025
Euclid Mortgage Insurance Services, a US-based firm specializing in mortgage credit risk, has announced a partnership with Fidelis Insurance Group, a global specialty insurer.
The collaboration, commencing on January 1, 2025, will bring Fidelis into Euclid’s reinsurance operations, with an anticipated $35 million in gross premiums projected for 2025. The move aligns with Fidelis’s aim to diversify its portfolio through partnerships with highly skilled underwriters in the re/insurance sector.
Euclid Mortgage manages and analyzes mortgage credit risk for financial institutions and government agencies.
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Joe Monaghan, managing principle and chief executive officer of Euclid Mortgage, commented: “We are thrilled to embark on this strategic partnership with Fidelis Insurance Group. We have enormous respect for the Fidelis Insurance Group team, who have demonstrated true leadership and innovation. Together, we will bring similar leadership, innovation, and a long-term commitment to the mortgage reinsurance market.”
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“This partnership is an exciting opportunity to work with an underwriting team that has decades of experience and is well known and respected in the US mortgage re/insurance market,” added Dan Burrows, chief executive officer of Fidelis Insurance Group. “While The Fidelis partnership remains our cornerstone partner, this opportunity to support a new partner with proven expertise in an attractive line of business is a natural evolution as we continue our journey to diversify and strengthen our portfolio. Given the strong credentials of the Euclid Mortgage team, we anticipate this partnership will contribute to our overarching goal of sustained growth and profitability through the cycle.”
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