Reinsurance News

Nephila to launch new ILS investor-backed Lloyd’s syndicate

21st December 2021 - Author: Charlie Wood

Nephila Capital, the world’s largest insurance-linked securities (ILS) investment manager, has announced plans for its Lloyd’s specialty syndicate 2358, as the firm looks to provide investors with greater access to the wider specialty insurance market.

Set to commence trading in the new year, syndicate 2358 will focus on short to medium tail lines of business accessed through underwriting partnerships.

The syndicate portfolio will be managed by Ross Louden as Active Underwriter.

“With our existing Nephila Managing Agency and the worldwide market for specialty risk being centred in London, a new Lloyd’s syndicate was the obvious choice to further enhance our product offering,” said Nephila Syndicate CEO, Adam Beatty.

“We’d like to thank Lloyd’s, our risk partners and most of all our investors for supporting this project.”

Louden described the organisation’s aim as building a profitable and efficient syndicate.

“We will do so by working with people who value the tradition of strategic partnerships yet see the future being defined by a greater delineation between leaders and followers, enhanced placement efficiency and an increased reliance on data and portfolio management techniques,” Louden said.

Nephila Co-CEO, Greg Hagood, noted an expression of interest from investors at “accessing additional non-correlating insurance risks through a trusted institutional manager.”

Hagood says his organisation has built a platform that will deliver value for them over the coming years.

“Nephila has invested in the Lloyd’s proposition since its entry in 2013 and we look forward to developing this and other new products in the years to come,” he concluded.

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