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.
That’s down $200 million from the end of 2021, but as we explained earlier today Markel felt a significant contribution from the value created by Nephila as the sale of the ILS managers managing general agent (MGA) platforms values those businesses at an impressive $384 million.
Nephila Capital’s ILS assets under management is down considerably from a few years ago, but the decline has slowed and with the sale of the MGA operations, Nephila can now concentrate on its core ILS fund management activities.
