Nephila Capital news

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.

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.

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.

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.

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.

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 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.

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.

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.

The previously announced 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 now completed.