nephila capital


Universal buys most cat reinsurance ever. Nephila a key participant

Universal Insurance Holdings, a Florida headquartered and expansive primary insurance carrier, has secured the largest private market catastrophe reinsurance renewal in its history, with capital market support again evident and Nephila Capital a key participant.The insurance carrier group has bought a catastrophe reinsurance tower that extends up to $3.26 billion read the full article →

Covid-19 an “interesting test case” for ILS: Frank Majors, Nephila

It’s too early to say exactly how the current pandemic plays out, but the challenges are expected to provide an interesting test case for the collateralised and insurance-linked securities (ILS) business model, according to Frank Majors, Co-CEO and President of Nephila Holdings, and a Director of Nephila Capital.In a recent read the full article →

Markel warns on Covid-19 hit to ILS operations, Nephila AuM down 4%

Markel Corporation reported its first-quarter 2020 results yesterday and in its report the company warned of the potential hit to its insurance-linked securities (ILS) operations from the Covid-19 pandemic, which is perhaps partly evidenced in a -4% decline in assets under management at Markel's flagship ILS fund manager Nephila Capital.Markel, read the full article →

Nephila’s MGA Velocity expanding homeowners writing in Florida & Texas

Velocity Risk Underwriters LLC, the managing general agency (MGA) operation of reinsurance, catastrophe, climate and weather risk-linked investment manager Nephila Capital, is to expand its direct sourcing of homeowners business in the core wind-exposed coastal insurance markets of Florida and Texas.Velocity has been steadily expanding its operations as an MGA, read the full article →

Nephila’s Syndicate 2357 lifts capacity target for 2020 to $554m

Nephila Capital, the largest insurance and reinsurance linked investment manager in the market, has again slightly lifted its stamp capacity target for the coming year to $554 million for 2020 for its syndicate at Lloyd's.In 2019, Nephila's syndicate suffered a loss of of almost $84.4 million, which was around 50% read the full article →

ILS to drive “increasing advantages & profitability” for Markel: Co-CEO’s

Insurance-linked securities (ILS) is seen as one of the cylinders of the insurance and reinsurance engine for Markel Corporation and the firm's CO-CEO's Thomas Gayner and Richard Whitt see ILS driving "increasing advantages and profitability" for the company with its leading position set to help it scale in the space.Having read the full article →

Stratosphere Re a “logical development” allowing ILS growth: Markel Co-CEO Whitt

The recently issued $100 million Stratosphere Re Ltd. (Series 2020-1) catastrophe bond that provides a source of reinsurance to cover tail risks generated by Nephila Capital’s fronted insurance business is seen as a "logical development" by Markel Co-CEO Richie Whitt, who said the structure will allow his company to continue read the full article →

Markel begins fronting insurance business for Nephila Capital

Markel Corporations relationship with its market-leading insurance-linked securities (ILS) fund manager Nephila Capital has deepened in recent months, as its insurance business began acting as a distributor for Nephila's capital, ceding catastrophe exposed insurance business to the manager.Markel acquired the largest manager of catastrophe and weather insurance and reinsurance linked read the full article →

Nephila drives Markel’s ILS operating revenues to $225.6m in 2019

Markel Corporation's operating revenues from its insurance-linked securities (ILS) businesses were up by 74% in the fourth-quarter of 2019, while the full-year saw ILS operating revenues hit $225.6 million, thanks to the contribution from Nephila Capital.Having acquired Nephila Capital in the fourth quarter of 2018, Markel Corporation had not yet read the full article →

Nephila’s Stratosphere Re in “rarefied air” as investment grade cat bond

Getting an investment grade rating for a securitization of property catastrophe insurance risks is "rarefied air", something that the recently completed $100 million Stratosphere Re Ltd. (Series 2020-1) cat bond covering tail risks on Nephila Capital's fronted business has achieved.Fitch Ratings assigned the investment grade 'BBBsf' rating to the Stratosphere read the full article →