New facility at the Lloyd’s market offers $250m capacity for high-value AI infrastructure projects
The Fidelis Partnership (TFP) has launched a construction consortium in the London market targeting risks linked to the rapid expansion of AI data centres.
The new facility will focus on excess layers of construction risk, an area where capacity has lagged behind rising demand.
Estimates suggest AI data centres could generate billions in new premium each year as investment in digital infrastructure accelerates.
The consortium has initial capacity of $250m, combining new capital and support from Fidelis Insurance Group and Fidelis Syndicate 3123 at Lloyd’s through TFP’s risk allocator model.
From 1 January 2026, additional capacity from its Blackstone-backed Syndicate 2126 is expected to be added.
Fidelis said the launch underscores its strategy of deploying capacity where it sees unmet demand. The firm already leads construction-related consortiums in space, ECAT and contingency lines.
Michael Davern, UK chief underwriting officer and group head of direct and facultative property and energy, said the timing was critical as AI data centres grow in number and complexity.
“It is essential that the right insurance capacity is available to support the construction of what are high complexity and high value projects,” he said.
Fidelis said the consortium demonstrates its commitment to developing solutions to support new and emerging risks.
Davern added: “This new capacity will also be complementary to our diverse product offerings to data centre clients across terror, cargo, project finance, surety, renewables, liability and operational property lines, creating new opportunities to cross-sell these products to deliver bespoke client solutions.”
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