Pelagos refills buyback to $400 million, raises dividend to 22 cents

Pelagos Insurance Capital's board replenished the company's share buyback authorization to $400 million and raised the quarterly dividend to 22 cents a share, Royal Gazette Bermuda Re reported on Nov. 4.

The dividend is payable Dec. 23, 2026, to common shareholders of record on Dec. 11, 2026, and the 22-cent quarterly rate annualizes to 88 cents a share.

Allocators who hold Pelagos paper or benchmark it against peers now have $400 million of buyback authority and a higher payout to compare with management's mid-single-digit top-line growth target for 2026. How much of the authorization is drawn will show in the share count.

Dan Burrows, group chief executive officer, said Pelagos remains on track to deliver mid-single-digit top-line growth in 2026, supported by an expanding network of underwriting partners. He said: "Today's actions reflect the strength of our balance sheet and our ability to increase capital returns while continuing to pursue profitable growth opportunities."

Pelagos's stake in the Fidelis Partnership accounted for its first-half profit gain, as Insurance Capital Daily previously reported.