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Markel cat program premiums ceded to Nephila rose 67% in 2021

Markel continues to drive increasing volumes of catastrophe exposed property business through the reinsurance vehicles owned by its insurance-linked securities (ILS) manager Nephila Capital, with the amount of premium ceded through such programs rising 67% year-on-year in 2021. Markel’s program services and fronting businesses have been ceding increasing amounts of property read the full article →

Markel has full-confidence in Nephila: Co-CEO Whitt

Markel Corporation has full-confidence in the ability of its insurance-linked securities (ILS) specialist manager Nephila Capital to deliver results over the long-term and looks forward to realising more synergies with the ILS operation, according to Co-CEO Richie Whitt. Speaking during Markel's Q4 and full-year 2021 earnings call today, Richie Whitt highlighted read the full article →

Nephila AuM drops $1bn to $8.8bn in second-half of 2021

Assets under management at Markel's flagship insurance-linked securities (ILS) operation Nephila Capital dropped by roughly $1 billion during the second-half of 2021, as the effects of natural catastrophe activity and redemptions dented the ILS fund managers scale. However, operating revenues from Markel's insurance-linked securities (ILS) business Nephila Capital increased during the read the full article →

Markel on-track to transfer all cat business to ILS model: Co-CEO’s

Markel Corporation intends to continue to cede retrocessional reinsurance business to its Lodgepine Capital Management start-up retro ILS investment manager and expects the full retro book to transfer to the ILS model in time, Co-CEO Ritchie Whitt said today. Speaking during the Markel third-quarter 2021 earnings call, Co-CEO Whitt highlighted the read the full article →

Nephila AuM declines $500m to $9.3bn, but fees rise for Markel

In the last quarter of record, revenues earned from its flagship insurance-linked securities (ILS) operation Nephila Capital rose for parent Markel Corporation, but assets under management at Nephila Capital declined heavily in Q3, dropping by $500 million to $9.3 billion by the end of September. Nephila Capital's assets under management have read the full article →

Nephila one of the most institutional hedge fund managers

According to a survey undertaken by publisher Pensions & Investments, Markel owned insurance-linked securities (ILS) investment manager Nephila Capital is one of the most institutional hedge fund managers, based on the profile of its end-investors. Every year Pensions & Investments (P&I) surveys the hedge fund industry and provides a ranking of read the full article →

New Nephila offerings planned, retro to transition to Lodgepine: Markel’s Whitt

New opportunities for Nephila Capital to grow its insurance-linked securities (ILS) business are expected to come to fruition over the next year through bespoke offerings and ESG portfolios, while Lodgepine's first retrocession ILS fund launch is just the start, according to Markel Corporation Co-CEO Richie Whitt. Speaking during the Markel second-quarter read the full article →

Nephila Capital’s assets rise to $9.8bn, as cat program premiums expand

Assets under management (AuM) at the largest dedicated insurance-linked securities (ILS) specialist manager Nephila Capital rose to $9.8 billion after the second-quarter of the year, while revenues reported for the period were almost flat with the prior year. The second-quarter of 2021 appears to have been more stable for Nephila Capital, read the full article →

Uri a step back, Markel still has work to do in ILS: Co-CEO Whitt

Winter storm Uri's impacts in the first-quarter of 2021 was a step backwards for the insurance-linked securities (ILS) market and the sectors biggest dedicated investment manager Nephila Capital, according to Markel Corporation Co-CEO Richie Whitt. With winter storm Uri coming on the heels of a year in which the pandemic impacted read the full article →

Nephila costs elevated on MGA platform build & new fund launches: Whitt

Nephila Capital is experiencing elevated costs as the insurance and reinsurance linked investment manager builds-out and grows its managing general agency (MGA) platforms and readies for the launch of new ILS fund vehicles, Markel Co-CEO Richie Whitt has explained. As we explained yesterday, Nephila Capital's assets under management (AuM) fell slightly read the full article →