Nephila Capital
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Both syndicates also reported a deterioration in their combined ratios. -
Indirect exposure to cat risk through long-term investors gives Markel optionality.
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The group ceded 55% more premium to Nephila over the year at $1.3bn.
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The top quartile, which includes Nephila 2357, were set to shrink overall.
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Strong growth in fee income builds on the favourable rating environment.
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Fee income fell by 42% to $25.1mn in Q3 over the prior-year quarter.
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Collateralised reinsurance and retro are in the firing line.
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Insurance Insider ILS reported in June that the company had bought substantial ILW coverage.
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Nephila’s income rose steeply owing to changes in its funds’ product mix.
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Aeolus increased its participation on the program more than fourfold.
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He will continue to play a role as a fund director and firm ambassador.
