Markel
-
The CFO of parent company Markel has said it aims to lean into property cat through Nephila. -
Nephila achieved significant rate increases at 1 January and expected the strong rate environment to continue this year.
-
The incoming president for insurance also highlighted the role Nephila could play in the transition to net zero.
-
The executive will help grow the insurer’s presence in the region and support the office’s overall operations and strategy.
-
The insurer also emphasized that it realised more than $300mn from selling two MGA operations.
-
The company’s combined ratio edged up by 0.3 points despite a two-point reduction in expenses and a 3.4-point reduction in cats.
-
Rhoads joined Markel in 2013 as part of its acquisition of Alterra Capital Holdings Limited.
-
Evanston Insurance Company, a subsidiary of Markel, backed the move.
-
Company's Nephila ILS operations will focus on “significant” cat opportunities.
-
Acrisure entered into a definitive agreement with Markel in March to acquire the MGA.
-
The ILS platform delivered stable revenues as Markel spent $102mn on its Catco buyout.
-
The retro fund has redeemed 99% of share capital, returning around $106mn to public fund investors.
