Nephila Capital
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Kristofer Sannemalm joins the growing new platform helmed by Lixin Zeng and Richard Lowther.
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The climate-focused InsurTech has raised $4.2mn and signed up insurance backing from the ILS manager and Munich Re.
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Nephila’s fall in AuM contributed to the trend of specialist firms shrinking, as reinsurer-backed assets were up modestly. -
The manager’s MGA operations boosted ILS revenue despite lower AuM.
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Ex-Novae deputy CUO to become active underwriter at Syndicate 2358.
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Syndicate 2358 may target lines such as cyber or terrorism.
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Syndicate 2358 will write specialty risks, an expansion from the Markel-owned platform's historic focus on property catastrophe.
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The deal could be expanded by up to 50 percent at the top end of pricing guidance.
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It is understood the new syndicate would write following lines via quota shares or consortia.
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The bond will renew only part of previous Blue Halo cover benefitting Nephila's fronting partner.
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Two large ILS managers bucked the trend for alternative retractions, but traditional carriers recorded the fastest expansion.
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The top ILS manager expects assets under management to decline by 7% in H1.
