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Markel off-risk for cat, but opportunity for Nephila significant: Whitt

Markel Corporation is now officially "off-risk" for property catastrophe reinsurance, as of the end of the first-quarter of 2022, according to its Co-CEO Richie Whitt. Back in 2020, Markel announced that Nephila Capital, its flagship dedicated insurance-linked securities (ILS) and reinsurance linked investment fund manager, would become the single point of read the full article →

Nephila assets slip to $8.6bn, but program cat premiums soar

Assets under management at Markel’s flagship insurance-linked securities (ILS) operation Nephila Capital declined slightly during the first-quarter of 2022, ending the period at $8.6 billion. That's down $200 million from the end of 2021, but as we explained earlier today Markel felt a significant contribution from the value created by Nephila read the full article →

Markel’s sale of Nephila-owned MGA’s valued them around $384m

After Markel Corporation sold off the managing general agent (MGA) platforms created and owned by its flagship insurance-linked securities (ILS) investment manager Nephila Capital, it's now become clear the combined value of the MGA's was around $384 million. Following the sales of the MGA platforms, that ILS manager Nephila Capital had read the full article →

Nephila’s Darren Toh moves across to Climate team

Darren Toh, a portfolio strategy focused employee of insurance-linked securities (ILS) investment manager Nephila Capital, has moved across to the firm's weather and climate risk focused division, Nephila Climate. Toh joined Nephila back in 2016, first as an intern on the research side at Nephila Advisors, working at the ILS managers read the full article →

Nephila syndicate 2357 writes 27% more, delivers $55.5m profit in 2021

Nephila Capital, the largest dedicated investment manager in the insurance-linked securities (ILS), weather and catastrophe reinsurance space, has reported a more profitable year for its flagship Lloyd’s of London Syndicate 2357 in 2021, as its premiums written also soared year-on-year. For full-year 2021, Nephila Capital's Lloyd's Syndicate 2357 wrote $662.7 million read the full article →

Nephila Capital sells final MGA stake in Volante to Acrisure

Insurance-linked securities (ILS) investment manager Nephila Capital has sold its ownership stake in multi-class international MGA platform Volante Global to fintech broker owner Acrisure. ILS specialist Nephila Capital's holding company was the majority equity owner in Volante since its launch. This sale to Acrisure marks an exit from MGA ownership for Markel-owned read the full article →

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 values stake in sale of Nephila’s MGA Velocity Risk at $180m

Markel Corporation has estimated that the recent sale of ILS fund manager Nephila Capital’s managing general agency (MGA) Velocity Risk Underwriters LLC to funds managed by Oaktree Capital Management, L.P. has netted the company around $180 million. Oaktree Capital Management, L.P., a leading global investment manager specialised in private equity and 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 →