Nephila
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The syndicate’s combined ratio was down for the fifth year in a row.
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The reinsurance and ILS leader joined the firm in 2012 during a “rollercoaster” year for industry loss warranties.
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The product protects firms buying carbon credits from third-party negligence and fraud.
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The follow-only vehicle initially launched in January with a more limited set of permissions.
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The change in plan comes as Lloyd’s restricts cyber growth.
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The transaction provides reinsurance capital from four pension funds and marks the second use of the Lloyd’s ILS transformer vehicle.
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SageLink will enable fully automated quoting capabilities for reinsurance.
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CEO Talbir Bains founded the business in 2017 with backing from the market’s largest ILS manager.
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The follow-only syndicate has carved up most of its 2021 capacity among leading Lloyd’s intermediaries.
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The Nephila CEO said ILS capital backing sidecars that are a "trade not a relationship" will charge a higher cost of capital.
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The appointment follows a number of senior departures from Aon’s reinsurance ranks.
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Ex-Novae deputy CUO to become active underwriter at Syndicate 2358.
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Syndicate 2358 will write specialty risks, an expansion from the Markel-owned platform's historic focus on property catastrophe.
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The launch will mark the third follow-only syndicate in the works within the Lloyd’s market.
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This comes after Everest Re previously let a mid-year renewal lapse, with ILS capacity scarce.
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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.
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The new venture would mark the third follow-only syndicate to come to light this year.
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Joint-third-ranked Cincinnati 318 and WRB Syndicate 1967 achieve significant underwriting turnarounds.
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The ILS fund manager’s parents makes hundreds of millions of dollars of capacity available.
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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.
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The launch comes after six years of Nephila using Asta's turnkey services.
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The ILS market faces a test to recover position as it loses market share to traditional players.
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The executive’s departure follows that of former EVP of commercial lines underwriting Mike Martin.
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Nephila, RenRe and Validus go on the record with this publication on the forthcoming 1 June renewals.
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ILS showed reinsurers the New World, but reinsurers have now learned to live in it.
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Settle in for The Insurance Insider’s 12 days of Insurancemas.
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The storms will reduce the net asset value of securities in the Catco Reinsurance Opportunities Fund by as much as 9.8 percent.
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The 2018 conference season has finally come to a close in North America, with the Property Casualty Insurers Association of America’s event in Miami last week bringing the curtain down on this year’s major industry gatherings.
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Before Florence and Michael, rate reductions had looked set to resume.
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More than 4,000 new claims were filed to the insurer in the third quarter.
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The all-cash purchase price fell slightly below initial expectations of a $1bn-plus valuation for the Bermudian manager.
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Reinsurers now have fresh impetus to argue for flat renewals at 1 January.
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Michael losses are likely to fall on the reinsurance market due to the low attachment points of the Floridian homeowners’ insurers.
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Validus, Nephila and Everest lead reinsurers providing Irma payouts to Citizens.
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Allianz's interest in a deal with Nephila may fuel speculation that major insurers will start to acquire ILS managers.
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