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Bermuda-based specialty property and casualty (re)insurer recently formed to underwrite niche commercial risks.
Bermuda-based specialty property and casualty (re)insurer recently formed to underwrite niche commercial risks.
Moat: narrow (process know-how, scale). Bermuda platform and experienced underwriting team, but no long loss-reserve track record.
Headquarters: Hamilton, Bermuda · Employees: 108
Size Pelagos Insurance Capital (PLGO) is a United States Financials company (Multi-Line Insurance) with a market value of $2.29B, the 1711th largest of 3,117 United States companies the cockpit tracks. Shares closed at $27.73 on 6 Nov 2026.
Performance Over six months the shares gained 32.6%, against +3.0% for the median peer and -1.1% for the United States market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue fell 4.5% over the last twelve months (peer median +12.7%); the operating margin is 21.1% (peer median 10.1%).
Valuation It trades at 1.03× book value against a peer median of 1.76× (9th cheapest of 21).
Price implies The share price implies a return on equity of about 6.5%; Pelagos Insurance Capital delivers 17.6%, so the price asks less than the business earns today.
Short interest Short interest is 3.4% of the free float (15 Oct 2026).
Next results Next results expected around 11 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $2.48B | $2.48B | $2.42B | $3.59B | $1.55B |
| Revenue growth | — | +2% | -33% | +132% | — |
| Net income | $401M | $226M | $113M | $2.13B | $52.6M |
| Free cash flow | $630M | -$410M | $614M | $489M | $723M |
| Capital expenditure | $1.40M | $1.20M | $4.60M | $6.40M | $18.8M |
| Total debt | $720M | $856M | $520M | $515M | $534M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Pelagos Insurance Capital PLGO | $2.29B | +33% | -4% | 18% | 1.03× | 6.5% |
| Hamilton Insurance HG | $3.64B | +20% | +20% | 19% | 1.24× | 8.0% |
| Bowhead Specialty BOW | $1.12B | +26% | +24% | 14% | 2.48× | 11.3% |
| Kinsale Capital KNSL | $8.64B | +26% | +8% | 28% | 4.70× | 30.6% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | PLGO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +13.4% | +2.3% | 3rd highest of 21 |
| 6-month return | +32.6% | +3.0% | 3rd highest of 21 |
| Return on equity | 17.6% | 9.0% | 4th highest of 21 |
| Price / book | 1.03× | 1.76× | 9th cheapest of 21 |
| Trailing P/E | 6.8× | 14.0× | 3rd cheapest of 19 |
| ROE the price implies | 6.5% | 10.2% | 6th least demanding of 20 |
| ROE delivered | 17.6% | 8.8% | 4th highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Pelagos Insurance Capital PLGO | United States | $2.29B | +33% | -4% | 18% | 1.03× | 6.5% | 17.6% |
| NIB NHF.AX | Australia | $2.29B | +4% | +5% | 17% | 2.90× | 13.2% | 16.6% |
| Seoul Guarantee Insurance 031210.KS | South Korea | $2.26B | -8% | +14% | 6% | 0.61× | 4.5% | 6.0% |
| Go Digit General Insurance GODIGIT.NS | India | $2.44B | -21% | +9% | 12% | 4.91× | 37.4% | n/a |
| Zhongan Online P&C Insurance 6060.HK | Hong Kong | $2.06B | -19% | +16% | 8% | 0.54× | 8.0% | 8.2% |
| Vaudoise Assurances VAHN.SW | Switzerland | $2.66B | -8% | +14% | 6% | 0.78× | n/a | 5.9% |
| Skyward Specialty Insurance SKWD | United States | $2.68B | +29% | +38% | 17% | 2.11× | 10.2% | 17.3% |
| New India Assurance NIACL.NS | India | $2.74B | -5% | +9% | -1% | 0.62× | 14.0% | -1.3% |
| Korean Reinsurance 003690.KS | South Korea | $1.74B | +8% | -2% | 14% | 0.73× | 4.8% | 14.4% |
| Lemonade LMND | United States | $3.06B | -28% | +77% | -27% | 6.12× | 75.0% | -27.0% |
| F&G Annuities & Life FG | United States | $3.06B | -17% | +14% | 9% | 0.66× | 8.4% | 9.2% |
| Trupanion TRUP | United States | $1.61B | +49% | +12% | 6% | 3.94× | 35.3% | 6.1% |
| Genworth Financial GNW | United States | $3.29B | -5% | -1% | 2% | 0.38× | 5.3% | 2.3% |
| Linea Directa Aseguradora LDA.MC | Spain | $1.48B | +3% | +10% | 23% | 3.07× | 11.7% | 23.3% |
| Hamilton Insurance HG | United States | $3.64B | +20% | +20% | 19% | 1.24× | 8.0% | 19.0% |
| Alm. Brand A/S ALMB.CO | Denmark | $3.70B | +16% | +3% | 9% | 2.19× | 7.3% | 8.8% |
| Wuestenrot & Wuerttembergische WUW.DE | Germany | $1.39B | -6% | +4% | 3% | 0.25× | 3.6% | 2.7% |
| Central Reinsurance 2851.TW | Taiwan | $1.12B | +52% | +21% | 37% | 1.41× | 5.1% | 37.4% |
| Bowhead Specialty BOW | United States | $1.12B | +26% | +24% | 14% | 2.48× | 11.3% | 13.6% |
| Chesnara CSN.L | United Kingdom | $1.08B | +11% | +192% | 0% | 2.14× | 15.7% | 0.3% |
| CNO Financial CNO | United States | $5.09B | +20% | +2% | 17% | 2.19× | 16.0% | 16.9% |