Is PLGO halal?
Pelagos Insurance Capital Limit
Not halal
Pelagos Insurance Capital Limit did not pass AAOIFI screening. The failed check is shown below.
Checked: 12 October 2026
Exchange
NYSE
Price
24.75
Day
+0.36%
Market cap
$2.01B
Industry
Insurance - Diversified
Sector
Financial Services
What the company does
Pelagos Insurance Capital (formerly Fidelis Insurance, renamed May 2026; Bermuda) writes specialty insurance and reinsurance: property, marine, aviation and cyber risks. Money comes from premiums and investment income.
What was checked
The AAOIFI standard has four steps: business activity first, then three financial ratios. Fail one and the stock is not halal.
Business activity
Prohibited activity: Insurance - Diversified
Interest-bearing debt / market cap
limit 30%
Interest-bearing debt $720.50M ÷ 36-month average market cap $1.89B = 38.1%
38.1%
Fail
Cash & investments / market cap
limit 30%
Cash + interest-bearing securities $3.56B ÷ 36-month average market cap $1.89B = 188.1%
188.1%
Fail
Non-compliant income / total revenue
limit 5%
Interest income $192.60M ÷ annual revenue $2.17B (2025) = 8.9%
8.9%
Fail
Figures from the company's filings (2026-06-30), USD. Market cap is a 36-month average (the S&P Shariah index approach), so a one-day price move does not flip the verdict. Today's market cap: $2.01B.
For information (AAOIFI 3/1 note): cash + receivables are 69.5% of total assets (2026-06-30). AAOIFI recommends tangible assets of at least one third — this figure does not affect the verdict, and other major screeners do not apply it either.
In the lists
- In the S&P 500
- Not in the S&P 500
- Held by funds
- Not held by any tracked fund
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- Halal investingBlogWhy a company's cash affects whether its stock is halalLots of cash sounds like a good sign — but halal screening checks it separately. What counts, what doesn't, and where we are stricter than AAOIFI.
- Halal investingBlogAAOIFI Shariah Standard No. 21 in plain languageThe most widely used standard for halal stock screening: the two-step test, the three ratios and how it differs from other methods.
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This is neither investment advice nor a fatwa. Screening is based on public financial statements and AAOIFI standard No. 21; data may lag. For a personal decision consult your own scholar.