Nephila’s specialty Syndicate 2358 turns profit in year one
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Nephila’s specialty Syndicate 2358 turns profit in year one


Nephila’s new specialty Syndicate 2358 made a profit in its first year of operating at Lloyd’s, the bulk of which came from aviation business, its results show.

Its 2022 combined ratio came to 88.3%, producing a $2.3mn profit on its $60mn capacity.

The syndicate’s follow-only structure is likely to have benefited its expense ratio, which for many syndicates in year one is a hurdle to delivering profits...

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