Nephila Capital to establish its own Lloyd’s managing agency
Nephila Capital, the insurance-linked securities (ILS) specialist now owned by Markel, has received regulatory approval to establish its own Lloyd’s managing agency. Nephila Syndicate Management will launch on October 11, 2019.
When the company launched Nephila’s Syndicate 2357, the first ILS-backed syndicate, in 2013, under the management of third-party managing general agent Asta, it created a blueprint for future ILS vehicles entering the Lloyd’s market. In the six years since, the business has grown to meet the £400 million stamp capacity planned for 2019.
Adam Beatty, chief executive officer of Nephila Syndicate Management, said: “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.
“From our launch in 2013, to the point where today we are ready for independence, their expertise and experience has been invaluable,” he said.
