Nephila to Launch New ILS Investor Backed Syndicate 2358 at Lloyd’s

Hamilton, Bermuda, Dec. 21, 2021 (GLOBE NEWSWIRE) -- Nephila Capital is pleased to announce the launch of a new Lloyd’s specialty syndicate, 2358. The syndicate will allow Nephila investors the opportunity to access the specialty insurance market in addition to the Natural Catastrophe and Climate based strategies offered by the firm.

Nephila is the largest institutional asset manager dedicated to investing in natural catastrophe and climate risk. Nephila’s Syndicate 2357 at Lloyd’s, which is backed by funds managed by Nephila, has been trading since 2013.  The new 2358 syndicate, which will commence trading on January 1st, will focus on short to medium tail lines of business accessed through partnerships with leading underwriters. Such relationships will provide unique access for Nephila’s investors to existing profitable markets while allowing those leaders to further develop and invest in their customer proposition.

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

The syndicate portfolio will be managed by Active Underwriter, Ross Louden, who added “We aim to build 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.”

Nephila Co-CEO, Greg Hagood, commented that “our investors expressed the desire to access additional non-correlating insurance risks through a trusted institutional manager and we have built a platform that we believe 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.”

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About Nephila Capital Nephila is a leading investment manager specializing in catastrophe and non-catastrophe specialty (re)insurance, climate, and weather risk. The firm has been active in the ILS markets since launching its first fund in 1998 and offers a broad range of investment products focusing on instruments such as insurance-linked securities, catastrophe bonds, insurance swaps, and private transactions across its robust platform. Nephila has approximately $9.3 billion in assets under management as of November 1, 2021 and is headquartered in Bermuda, with offices in San Francisco, CA, Nashville, TN, and London.  There are currently over 130 employees across its various business lines with expertise in finance, seismic engineering, catastrophe modeling, risk management and traditional underwriting. About Nephila Syndicate Management Ltd Nephila Syndicate Management Ltd is Nephila’s managing agency at Lloyd’s.  Syndicate 2357 was the first syndicate at Lloyd’s to be wholly backed by capital from managed ILS portfolios raised from institutional investors. It is wholly supported by investment funds managed by Nephila Capital and writes Property Catastrophe Reinsurance, US insurance and weather risk business.

Mandi Abate Little
Nephila
+1 (615) 509 9007
[email protected]

Adam Beatty
Nephila Syndicate
+44 (0)20 3808 3136
[email protected]

Source: Nephila