The latest from Lloyd’s;
Lloyd’s has announced that leading investment manager Nephila has funded its newly launched Syndicate 2358, which focuses on short to medium term business lines, with capital provided through London Bridge Risk PCC (LBR PCC).
The new transaction provides reinsurance capital from a diverse group of investors, including four pension funds, to support underwriting beginning with the 2022 Year of Account.
Nephila has been active in the insurance-linked securities (ILS) market for over twenty years and at Lloyd’s for nine years, and by using LBR PCC to channel this investment, now brings part of its investment activity onshore in the UK.
In addition to this transaction, Lloyd’s is also pleased to confirm that Ontario Teachers’ Pension Plan (Ontario Teachers’), who were announced as the first investor to use LBR PCC in November, have recently provided a second tranche of capital via LBR PCC to cover further risks in 2022.
Be the first to comment