Nephila Capital
-
Syndicate 2358 may target lines such as cyber or terrorism. -
Syndicate 2358 will write specialty risks, an expansion from the Markel-owned platform's historic focus on property catastrophe.
-
The deal could be expanded by up to 50 percent at the top end of pricing guidance.
-
It is understood the new syndicate would write following lines via quota shares or consortia.
-
The bond will renew only part of previous Blue Halo cover benefitting Nephila's fronting partner.
-
Two large ILS managers bucked the trend for alternative retractions, but traditional carriers recorded the fastest expansion.
-
The top ILS manager expects assets under management to decline by 7% in H1.
-
The entity has told brokers that its “minimum standards” on all terms and conditions will include exclusions for these perils.
-
The MGA insurance business returned an underwriting profit of $1.4mn having made a loss of $75.1mn in 2018.
-
The three ILS-backed syndicates at Lloyd’s narrowed their losses in 2019.
-
The insurer will offer to buy out side-pocketed assets at a discount, with several hundred millions of capacity available if needed.
-
Co-CEO Richie Whitt also highlighted an expectation that Nephila will seek to raise capital and return to growth.
