Markel acquired Nephila, an investment manager specializing in reinsurance, weather risk transfer, and ESG-driven business, in November 2018. Nephila offers a broad range of investment products focusing on instruments such as insurance-linked securities, catastrophe bonds, insurance swaps, and weather derivatives. Nephila's objective is to provide investors with attractive returns in an asset class which is fundamentally uncorrelated to both traditional and alternative markets.
As of June 30, 2019, Nephila manages approximately $10.7 billion of assets under management for over 300 geographically diverse institutional investors, and has over 200 employees across offices in Bermuda (headquarters), San Francisco, Nashville, and London.

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