Nephila Capital, the specialist insurance-linked securities (ILS) and reinsurance investment manager unit of Markel, has promoted Bermuda-based employee Mark Richardson to the position of Head of Underwriting.
Richardson joined Nephila Capital in 2023, joining the ILS manager as a Senior Underwriter.
Now, in a LinkedIn update, Richardson has revealed his promotion to a role that will see him taking the lead on underwriting in Bermuda for the company, as Nephila’s new Head of Underwriting from this month.
Richardson has been underwriting treaty reinsurance in Bermuda for around seven years.
He worked at broker Aon in London at the beginning of his reinsurance career, broking business from large Japanese property catastrophe treaties.
Richardson then spent some time in New York for Aon, working with global reinsurance cedents.
He moved to Bermuda in 2018 and spent around two and a half years working as an Underwriter at Fidelis Insurance.
Richardson joined Lancashire Insurance Group in Bermuda in 2021, first working as an Underwriter at the firm before becoming its Head of International Treaty reinsurance in 2022.
After which he moved to Nephila Capital and began underwriting for the insurance-linked securities (ILS) manager’s property catastrophe reinsurance portfolios and funds.
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