Nephila syndicate’s primary profit dives as reinsurance rebounds in 2020
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Nephila syndicate’s primary profit dives as reinsurance rebounds in 2020

Fiona Robertson
31 March 2021
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Nephila’s Syndicate 2357 has halved its loss for 2020 to $41.5mn from $84.4mn the prior year, as its MGA business took the brunt of major losses over the period.

The expanding syndicate grew earned premium income by nearly one-fifth to $310.9mn, with expansion still focused on its MGA insurance business written through Lloyd’s, which was up by 40%.

The

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