The Fidelis Partnership (TFP) has set up the TFP PVT Consortium, a new arrangement bringing together Lloyd’s syndicates to add capacity to the war, terror and political violence (WTPV) market.
The facility was placed by Guy Carpenter and combines capacity from Lloyd’s syndicates including Argenta, as well as TFP’s syndicates 3123 and 2126.
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Backed in part by Pelagos Insurance Capital, described as TFP’s cornerstone capacity provider, the consortium can offer up to $47.5m for each risk in the Middle East and as much as $345m for each risk worldwide.
The structure is intended to provide clients with organised capacity in a market where available supply has been affected.
The launch follows its recent activity in political violence and terrorism (PVT) underwriting including its handling of risks linked to the continuing conflict in the Middle East.
According to the announcement, the consortium allows participating partners to use TFP’s geopolitical and underwriting capabilities while increasing the amount of capacity that can be deployed in a market where demand is high and supply is under pressure.
It comes after other consortia were introduced across TFP and its Pine Walk MGA platform, including TFP’s AI data centre Construction Consortium and Navium’s Helix Consortium for AI infrastructure cargo risk.
TFP crisis management underwriting head Billy Ayres said: “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. This consortium is a demonstration of that commitment.”
In November 2025, TFP, through its subsidiary Pine Walk Capital, launched an alternative risk transfer managing general agent, Carnovis.
