Nephila Capital, the world’s largest insurance-linked securities (ILS) investment manager, has received regulatory approval to establish its own Lloyd’s managing agency.
Nephila’s Syndicate 2357, which is backed by funds managed by Nephila, has been managed by Asta, a third party syndicate manager at Lloyd’s, since its inception in 2013.
Nephila Syndicate Management Ltd. is set to launch on October 11.
“We are excited about this new phase in the development of Nephila’s business at Lloyd’s and we’d like to thank Asta for their outstanding contribution in helping us to reach this important milestone” Adam Beatty, Chief Executive Officer of NSML.
“From our launch in 2013, to the point where today we are ready for independence, their expertise and experience has been invaluable.”
CEO of Asta Julian Tighe added, “There are always mixed emotions when a managed syndicate makes the move to independence. We’ve been proud to partner with Nephila on their journey from establishing the first ILS syndicate at Lloyd’s, to the successful launch of their own managing agency.
“It’s been a pleasure to work with the team at Nephila and we wish them every success in the future.”