Nephila
-
The syndicate’s combined ratio was down for the fifth year in a row.
-
The reinsurance and ILS leader joined the firm in 2012 during a “rollercoaster” year for industry loss warranties.
-
The product protects firms buying carbon credits from third-party negligence and fraud.
-
The follow-only vehicle initially launched in January with a more limited set of permissions.
-
The change in plan comes as Lloyd’s restricts cyber growth.
-
The transaction provides reinsurance capital from four pension funds and marks the second use of the Lloyd’s ILS transformer vehicle.
-
SageLink will enable fully automated quoting capabilities for reinsurance.
-
CEO Talbir Bains founded the business in 2017 with backing from the market’s largest ILS manager.
-
The follow-only syndicate has carved up most of its 2021 capacity among leading Lloyd’s intermediaries.
-
The Nephila CEO said ILS capital backing sidecars that are a "trade not a relationship" will charge a higher cost of capital.
-
The appointment follows a number of senior departures from Aon’s reinsurance ranks.
-
Ex-Novae deputy CUO to become active underwriter at Syndicate 2358.
-
Syndicate 2358 will write specialty risks, an expansion from the Markel-owned platform's historic focus on property catastrophe.
-
The launch will mark the third follow-only syndicate in the works within the Lloyd’s market.
-
This comes after Everest Re previously let a mid-year renewal lapse, with ILS capacity scarce.
-
Nephila’s choice of the more traditional route is a reminder that the creation of a cost-light follow syndicate is not out of reach for many.
-
The new venture would mark the third follow-only syndicate to come to light this year.
-
Joint-third-ranked Cincinnati 318 and WRB Syndicate 1967 achieve significant underwriting turnarounds.
-
The ILS fund manager’s parents makes hundreds of millions of dollars of capacity available.
-
AIG’s AlphaCat-managed ILS funds grew AuM by $200mn in Q3, while assets at Nephila, Hiscox ILS and Mt Logan dipped in the quarter.
-
The launch comes after six years of Nephila using Asta's turnkey services.
-
The ILS market faces a test to recover position as it loses market share to traditional players.
-
The executive’s departure follows that of former EVP of commercial lines underwriting Mike Martin.
-
Nephila, RenRe and Validus go on the record with this publication on the forthcoming 1 June renewals.
Most Recent
-
Axis Syndicate 1686 reports 2023 combined ratio of 87.5%
28 March 2024 -
Inigo posts $138.8mn profit for 2023
28 March 2024 -
Atrium 609 posts 97% CoR as Ukraine costs escalate
28 March 2024