Nephila Capital news

Nephila Capital, the specialist ILS manager, delivered high revenues and profitability during the third-quarter of 2026 for parent company Markel Group’s financial segment, signifying another step forward in a multi-year effort to develop innovative risk transfer solutions that match investor demand, according to Andrew Crowley, Co-President of Markel Group.

Nephila Capital’s insurance-linked securities (ILS) fund management business continues to deliver in 2026, as revenues reported within parent Markel’s quarterly results showed yet another increase of nearly 40% to $42.2 million for the third-quarter, even as the soft reinsurance market becomes increasingly evident in the volume of premiums fronted to Nephila’s reinsurers.

Blackstone Alternative Asset Management, the hedge fund solutions unit of Blackstone, has now made a second direct investment into a catastrophe bond through one of its flagship muti-strat alternatives funds.

Nephila Capital’s insurance-linked securities (ILS) fund management revenues reported within parent Markel’s results have risen strongly by 23% in the second-quarter of 2026 and now by 30% for the first-half of the year.

Florida’s Citizens Property Insurance Corporation once again benefited from meaningful ILS manager and capital markets support for its traditional reinsurance needs in 2026, with these third-party capital investors taking 52% of the placement, while Nephila Capital was the largest single participant.

Two of the Lloyd’s syndicates operated by specialist ILS investment manager Nephila Capital are set to provide capacity support to a new property treaty consortium launched by MS Amlin, with data centre risk underwriting said to be a key focus for the new venture.

Nephila Capital’s insurance-linked securities (ILS) fund management revenues reported within parent Markel’s results rose by an impressive 59% year-on-year, to reach $40.5 million in the first-quarter of 2026.

Nephila Capital’s specialty lines focused Syndicate 2358 at Lloyd’s delivered a $35.6 million profit for the 2025 underwriting year, as its gross premiums written soared by 129% to reach over $508.6 million for the period.

Nephila Capital’s Lloyd’s Syndicate 2357, which is the flagship syndicate run by the dedicated investment manager focused on the insurance-linked securities (ILS), weather and catastrophe reinsurance space, reported a meaningful increase in profits for 2025, while it utilised legacy reinsurance deals to close out risks from prior underwriting years.

Nephila Capital contributed an impressive $159.2 million in fund management revenues to its parent Markel in 2025, with the figure having risen 68% over the prior year and Tom Gayner, Markel CEO, said the ILS unit “delivered” for its investors as well.