The TFP-led consortium will deploy up to $47.5m per risk in the Middle East and up to $345m globally
The Fidelis Partnership (TFP) has launched a new political violence and terrorism (PVT) consortium in response to market dislocation caused by the Middle East conflict.
The TFP PVT Consortium went live on 1 June 2026 and will bring together Lloyd’s syndicates to provide capacity to the war, terror and political violence market.
The consortium was placed by Guy Carpenter and includes capacity from Argenta, alongside The Fidelis Partnership’s own syndicates 3123 and 2126.
Following capacity provided by TFP’s cornerstone capacity provider, Pelagos Insurance Capital, the consortium can deploy up to $47.5m per risk in the Middle East and up to $345m per risk globally.
TFP said the launch comes at a time of heightened global demand and significant market dislocation following the Middle East conflict.
The business said the consortium is intended to provide structured capacity in a disrupted market where clients are seeking urgent solutions.
TFP said the launch also reflects its record in political violence and terrorism underwriting, including its response to the ongoing conflict in the Middle East.
The company said it had maintained 24/7 availability and supported clients with timely solutions while sustaining underwriting discipline and using multiple intelligence and data sources.
The consortium has been structured to give partners access to TFP’s geopolitical expertise and underwriting leadership, while enabling scaled capacity in a market where demand is rising and supply is contracting.
Billy Ayres, head of underwriting, crisis management at The Fidelis Partnership, 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 war, political violence and terrorism market, and we are committed to remaining open, disciplined and available to clients throughout the conflict.
“This consortium is a demonstration of that commitment.
“It brings together the capacity provided by our cornerstone partner, Pelagos Insurance Capital, complemented by high-quality Lloyd’s capacity behind our underwriting leadership and gives clients certainty at the moment they need it most.
“It also reinforces our commitment to open market underwriting, which delivers transparency around pricing, aggregates, and risk exposure, in contrast to the opacity that can develop within facility-based structures.”
The launch follows several new consortia 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 said the latest launch reflects its focus on developing new capacity solutions for complex market needs.
Darren Hines, unit head of terrorism at Argenta, said: “We’re pleased to support the TFP PVT consortium at a time when clients are facing heightened uncertainty.
“The structure brings together strong underwriting leadership and meaningful capacity, helping ensure continued access to cover in a challenging market.”
Jonathan Powell, managing director at Guy Carpenter, said: “Clients are facing urgent and complex capacity needs following the Middle East conflict.
“Guy Carpenter was pleased to place the TFP PVT consortium to provide structured, dependable capacity at scale.
“This collaboration combines underwriting expertise and disciplined risk allocation to help clients manage exposure and maintain business continuity in a fast-changing market,” Powell added.
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