The Fidelis Partnership (TFP), the Bermuda-based managing general underwriter, announced the launch of a consortium that targets risks associated with the construction of AI data centers.
With estimates suggesting that the AI data center market could rapidly represent billions in new premium a year, the consortium will target excess layers in construction risk where there is currently a lack of capacity in the market to support increasing demand.
In addition to the new capacity provided by the consortium, TFP has also collaborated with existing capacity partners, Fidelis Insurance Group and Fidelis Syndicate 3123, to build an overall consortium capacity of $250 million for these risks.
From January 1, 2026, TFP will be looking to add further capacity from its new Blackstone-backed Syndicate 2126. Together with the consortium, this represents meaningful new capacity for the market, TFP said.
The construction consortium follows existing consortiums led by TFP in the space, economically linked risk (e-cat), and contingency classes.
“We are very pleased to be launching and leading this new consortium at a critical moment in the proliferation of AI data centers,” commented Michael Davern, UK CUO & group head of D&F Property and Energy at The Fidelis Partnership.
“The number and size of AI data centers is growing at pace, and it is essential that the right insurance capacity is available to support the construction of what are high complexity and high value projects,” he added. “Once again, TFP has acted with speed and leadership to unlock capacity where the market needs it most.”
Davern said the data center capacity will be complementary to TFP’s other product offerings: terror, cargo, project finance, surety, renewables, liability and operational property lines, which will create “new opportunities to cross-sell these products to deliver bespoke client solutions.”
About The Fidelis Partnership
The Fidelis Partnership is a privately-owned, Bermuda-headquartered managing general underwriter, which, through its subsidiaries, is a global underwriter of property, bespoke and specialty re/insurance products. TFP also sponsors and incubates specialist MGAs through its Pine Walk Capital Ltd. platform as an appointed representative of Pine Walk. The Fidelis Partnership is separately owned and managed from the ownership and management of Fidelis Insurance Group.
Source: The Fidelis Partnership
Topics InsurTech Data Driven Artificial Intelligence New Markets Construction
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