Nephila Capital
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The gains were partially offset by the costs associated with Markel Catco. -
The firm's chief commercial lines underwriter has left, as it separately announced expansion into North Carolina and New York.
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Syndicate 2357 had escaped a reinsurance loss in 2017 but the segment fell to an $84.2mn loss in 2018.
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The Bermuda-based ILS manager has signed up to use the specialist’s climate risk tools.
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An Ares fund has used Nephila-backed proxy revenue swap contracts to help finance three wind farms in Texas.
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The Bermuda-based ILS manager withdrew from the insurer’s reinsurance treaty following losses in 2018.
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Regulatory investigations can move at a snail’s pace.
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Assets under management fell by around $5bn.
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Nephila Climate has done a couple of recent swaps covering wind farms.
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The Munich Re vehicle funded by Dutch pension fund service provider PGGM has reached $400mn for 2019.
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The ILS investor says 7 percent annual returns have made the asset class an attractive opportunity for the fund.
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The government also said it is exploring the possibility of issuing a cat bond in the near future.
