Nephila Capital Chooses SEI as Strategic Partner for Operational Support
Nephila Capital Chooses SEI as Strategic Partner for Operational Support
In a significant development in financial services, SEI® (NASDAQ: SEIC) has been announced as the chosen strategic partner for Nephila Capital Ltd., recognized as premier investment managers specializing in reinsurance risks. This partnership signifies SEI's role in bolstering Nephila's operational capabilities, particularly focusing on its back- and middle-office functions across North America and the United Kingdom.
Nephila Capital has solidified its position within the reinsurance landscape over the past two decades, managing institutional assets and developing a comprehensive understanding of the market's complexities. With approximately $7 billion in assets under management, Nephila stands as one of the largest managers of insurance-linked securities (ILS) globally. Owned by the Markel Group Inc. (NYSE: MKL), the firm operates from various offices including the US, Bermuda, and the UK, emphasizing its prominent global footprint.
The ILS market is on a trajectory to see substantial growth, anticipated to escalate from around $100 billion to $200 billion by 2032. In this rapidly evolving landscape, asset managers like Nephila recognize the need for strategic partners that can offer a suite of services—this includes areas such as payment processing, automated operations, and data management—to enhance overall efficiency and support business needs.
Strategic Insight from Nephila
In reflecting on this partnership, Sean McDade, Head of Operations at Nephila, expressed the importance of aligning with a partner capable of navigating complex financial products while also promoting a scalable infrastructure. He stated, “As we continue to focus on providing investors with positive returns and growing our established presence in the ILS market, we sought a strategic partner with a proven track record of managing complex products, providing a scalable infrastructure, and aligning with a client-centric culture.”
McDade further underscored SEI’s technology-driven strengths, noting, “SEI was built with technology at its core, and their breadth of solutions not only met our criteria, but can be tailored to help us achieve our strategic goals. Their unique industry position, proven expertise, and innovative capabilities will enable efficiency, scale, and our growth.”
SEI’s Commitment to Investment Management
From SEI’s perspective, the partnership is regarded as a key step in extending their support to Nephila in managing back- and middle-office operations. Bryan Astheimer, head of SEI’s Investment Managers business in EMEA, highlighted the importance of SEI’s global presence, mentioning, “Regardless of location or industry, our clients can benefit from our global footprint, stability, and working with a team that's closely aligned with their culture. We're thrilled to partner with Nephila to support their back- and middle-office operations.”
Esteemed for its innovative solutions in managing financial operations, SEI has carved out a niche as a leader in the sector, facilitating significant growth opportunities for their clients. As of June 30, 2025, SEI administered or managed approximately $1.7 trillion in assets, showcasing their extensive reach and capability within the financial landscape.
About Nephila Capital
Founded in 1997, Nephila Capital focuses on investing in insurance-linked securities, initially centered around natural catastrophe risks. Over the years, the firm has diversified, expanding its investment strategies beyond its original focus. For example, Nephila launched its Climate Risk strategy in 2005, emerging as a dedicated climate risk manager committed to promoting sustainable economic solutions in renewable energy and agriculture. Additionally, the Specialty Risk strategy, initiated in 2022, serves to target selective non-catastrophe risks comprising sectors like energy, aviation, and cyber insurance.
As Nephila continues to navigate and adapt to market shifts, the strategic partnership with SEI stands as a pivotal arrangement, shedding light on the benefits of collaboration in enhancing operational efficiency and enabling growth in an increasingly complex investment environment.
In conclusion, both Nephila and SEI look ahead to a productive partnership that is set to redefine operational frameworks in financial services, emphasizing efficiency and investor satisfaction in a growing marketplace.
Topics Financial Services & Investing）
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