Syndicate 2357

While the major catastrophe losses of 2017 took their toll on the results of ILS fund manager Nephila Capital’s Syndicate 2357 vehicle at Lloyd’s of London, driving the syndicate to a loss for the year, the manager is looking to expand on the use of the vehicle and as a result has increased its stamp […]

Nephila Capital, the largest manager of catastrophe and weather insurance or reinsurance linked assets, has added a significant amount of capacity to its Syndicate 2357 vehicle at Lloyd’s of London, while the business mix written by the syndicate has changed as it supports the ILS manager’s growing U.S. MGA activities.

Nephila Syndicate 2357, the first Lloyd’s of London syndicate backed by an insurance-linked securities (ILS) manager, was among the top performers of all Lloyd’s syndicates in 2015, according to ratings agency Standard & Poor’s (S&P).

Lloyd’s of London Syndicate 2357, backed by the largest manager of catastrophe and weather insurance or reinsurance linked assets, Nephila Capital, more than doubled its full-year profit in 2015 and has increased its stamp capacity for 2016 by 68% to $178.9m.

Lloyd’s of London Syndicate 2357, the first syndicate to enter the Lloyd’s reinsurance market backed by an insurance-linked securities player in Nephila Capital, has increased its gross written premiums by 136% to $33.3m for the 2014 year of account.

Lloyd’s of London Syndicate 2357, the first syndicate to enter the Lloyd’s reinsurance market backed by an established insurance-linked securities player in Nephila Capital, reported its 2013 results recently which show a profitable start for the unique Lloyd’s business.

Lloyd’s of London Syndicate 2357, the first syndicate to enter the Lloyd’s reinsurance market backed by an insurance-linked securities player , Nephila Capital, has an increased capacity of £72.5m for 2014, according to a report by economists at Moody’s Analytics.