Neptune Flood, a private flood insurance provider in the US, has entered into a strategic partnership with Somers Syndicate 3705 to bring additional underwriting capacity to support its suite of insurance offerings.
Somers Syndicate 3705 is the Lloyd’s insurance operation of Somers Re Ltd, a global insurance and reinsurance firm with significant experience across specialty insurance markets.
By adding Somers, Neptune Flood further broadens its panel of highly rated global insurance partners, reflecting a continued interest from leading carriers in the private flood insurance market.
Neptune Flood leverages proprietary technology, advanced data science, and automated underwriting to deliver insurance products, including its flagship private flood insurance products. As of September 30th, 2025, the insurer has over 260,ooo policies in force nationwide.
Acrisure Re supported the transaction and will serve as Lloyd’s broker for the relationship.
Matt Duffy, President, Neptune Flood, commented, “Both Neptune and Somers are strongly aligned on the future of the private market in flood insurance, and we are excited to continue growing our capacity provider panel with a respected insurance group via the Lloyd’s market.
“This partnership facilitates our ongoing growth in the US flood market as private insurers play an increasingly important role in protecting homeowners and businesses.”
David Booth, Active Underwriter, Syndicate 3705, added, “Neptune Flood has built a strong platform focused on data, technology, and underwriting discipline.
“Through this transaction, Syndicate 3705 and Somers are pleased to grow our Lloyd’s platform with a pre-eminent partner in Neptune Flood. We look forward to the continued growth of the relationship.”
