Nephila Capital, the largest dedicated specialist insurance and reinsurance linked investment fund manager, is to appoint an active underwriter for its new specialty lines focused Syndicate 2358 at Lloyd’s.
Ross Louden will join the company to take on this role later this year, the company confirmed, after a period of gardening leave on departure from his current position as Deputy Chief Underwriting Officer in AXIS Insurance’s international division.
The ILS asset manager is set to launch Syndicate 2358 towards the end of this year, through its dedicated Lloyd’s managing agency Nephila Syndicate Management Ltd (NSM).
Syndicate 2358 will aim to underwrite a diversified portfolio of specialty insurance and reinsurance risks from the Lloyd’s marketplace, for its ILS investor backers.
The syndicate will follow selected specialty lines underwriters performance in the Lloyd’s market, leveraging their access to and ability to originate risks to put the syndicate’s capital to work, to the mutual benefit of the investors and capital providers supporting it.
Louden is expected to join Syndicate 2358 as Active Underwriter around the beginning of the fourth-quarter, we understand.
He had joined AXIS through its acquisition of Lloyd’s underwriting group Novae, where he also held the role of Deputy CUO.
Louden had worked at Novae since 2006, when he joined from a litigation and insurance coverage role at lawfirm RPC.
He became Novae’s Head of Financial Institutions in 2011, then becoming Deputy Divisional Head of the underwriters Casualty unit in 2015, and finally Deputy Chief Underwriting Officer in 2017.