$125mn Herbie Re part of Fidelis’ move from “insurgent to incumbent”

Fidelis’ inaugural Herbie Re cat bond – upsized to $125mn from $100m during the marketing stage and due to price later this week – is the latest move by the Bermudian (re)insurer to bolster its capital base as it moves from “insurgent to incumbent” in the harder, post-Covid 19 market.