Nephila Capital’s specialty lines focused Syndicate 2358 at Lloyd’s delivered a $35.6 million profit for the 2025 underwriting year, as its gross premiums written soared by 129% to reach over $508.6 million for the period.2025 was the fourth full underwriting year for Nephila’s specialty lines focused Syndicate 2358 at Lloyd’s, with further expansion of the portfolio of risks and an improved combined ratio reported. The 2025 calendar year combined ratio came in at 90.9% for Syndicate 2358, much better than 2024’s 98.5%, while gross premiums of $508.6 million n 2025 was a meaningful increase on the $222 million written a…
Author: Awais
Veteran director to step down after nearly four decades
Carlos arrived at an Immigration and Customs Enforcement office in New Mexico in December, believing he was one step closer to reuniting with his children. By that point, his 14-year-old son and 16-year-old daughter had been in a federal shelter in Texas for nearly a year after crossing the border to be with him. “I feel like I’m suffocating inside this shelter, trapped with no way out,” Carlos’ son said, according to one of the teens’ attorneys, when asked to describe how he felt after months at the Houston-area facility. “Every day, the same routine. Every day, feeling stuck. It…
California Attorney General Rob Bonta said on Monday he has sued the U.S. Department of Energy to stop it from using a Cold War-era law to restart the long-disputed Sable Offshore pipeline system linking the Santa Ynez offshore platform to California refineries. U.S. Secretary of Energy Chris Wright earlier this month restarted the pipelines using powers granted to him by President Donald Trump through an executive order that invoked the Defense Production Act to supersede state laws. “We won’t let this outrageous federal overreach go without a fight,” Bonta said in a press conference Monday. Bonta alleged Wright’s restart order…
The second factor, Brown said, was governance scrutiny and AI‑related regulation. The third was coverage sophistication gaps, particularly programs sold on price rather than depth. “Brokers really need to pivot from negotiating rate to being true coverage architects,” he said. “They should build out robust programs, push Side A education with clients, lower retentions, and broaden coverage over the next couple of years.”
The US investment-grade bond market reopened Monday following a three-session pause in activity, as concerns over the Iran conflict ease. Six firms raised a combined $7 billion from high-grade debt offerings, after President Donald Trump said he would postpone strikes on Iranian energy infrastructure following what he described as productive talks toward ending hostilities. It was the first day of high-grade issuance since Tuesday, ending an unusual dry spell in the market. It comes as companies have faced narrower borrowing windows this month amid war in the Middle East, with heightened volatility making markets less predictable. Utilities — traditionally seen…
South Korea’s transport ministry announced on Tuesday the recall of 58,000 Hyundai Motor Palisade hybrid sport utility vehicles nationwide over safety concerns, following a fatal accident in the United States earlier this month. Hyundai stopped sales of some high-end versions of its new Palisade SUVs and recalled 68,500 new Palisade SUVs in the United States and Canada after a two-year-old girl in Ohio died on March 7. Local media reports said the automatic seat collapsed on the child sitting in the third row of a Palisade SUV. Hyundai has said it is investigating what happened. On Monday, Hyundai reported that…
Environmentalists suffered a setback on Monday when Germany’s top appeals court threw out their cases seeking to ban Mercedes-Benz and BMW from selling new combustion-engine cars from November 2030. The federal court of justice in Karlsruhe upheld lower court rulings against the lawsuits, brought by three managing directors from the DUH environmental lobby The DUH had based its case on a “carbon budget” calculated for each of the two automakers But the court ruled that no such budget had been allocated to individual companies Both Mercedes-Benz and BMW welcomed the ruling while stressing their commitment to sustainability The decision provides…
A fire that broke out Monday almost completely destroyed the 134-year-old Floyd County Courthouse in Rome, Georgia, leaving officials looking for new office space for some government functions, local news sites reported. The scene Monday at the courthouse. (Facebook) The courthouse, built in 1892 and listed on the National Register of Historic Places, was undergoing a $4 million renovation when it caught fire around 2 p.m. Fire crews battled the blaze for hours in strong winds, but much of the interior of the structure and the clock tower could not be saved, according to Georgia Public Broadcasting and multiple other…
The estate of late British tech tycoon Mike Lynch was on Tuesday refused permission to appeal a ruling by London’s High Court that he was liable to Hewlett Packard Enterprise over its acquisition of his firm Autonomy. The U.S. technology giant Hewlett Packard is trying to recoup losses arising from its 2011 acquisition of Autonomy for $11.1 billion from the estate of Lynch, who died in 2024 when his luxury yacht sank off Sicily. HP accused Lynch and Autonomy’s former chief financial officer, Sushovan Hussain, of inflating the firm’s value before the takeover. HP wrote down Autonomy’s worth by $8.8…
The Federal Communications Commission ordered a ban on the import of new models of foreign-produced consumer wireless routers after an interagency panel determined they threaten national security. While the FCC said companies could apply for exemptions, the move could dramatically shake up the market for routers, which are primarily made overseas. Consumers and businesses connect wired internet lines to routers to create Wi-Fi networks for computers, phones, TVs, cameras and other internet-enabled products. The action puts further pressure on TP-Link Systems Inc., one of the world’s largest makers of routers. The company, which was founded in China 30 years ago…
Global reinsurance business Ariel Re has announced a series of promotions across both its Bermuda and London offices, including Andy Kerr being promoted to Senior Vice President, Capital.An experienced figure within the insurance-linked securities (ILS) industry, the Bermuda-based Kerr, joined Ariel Re in August 2022, previously serving as Vice President, Capital, where he has held responsibility for executing on the firm’s capital strategies as well as acting as Ariel Re’s ceded buyer. Additionally, Kerr also works on capital partnerships with third-party investors as well at Ariel Re. Before he joined Ariel Re, Kerr spent a few years at Nephila Climate,…
Judge Menashi dissented separately, agreeing that the president’s recognition of Afghanistan as a state should stand but arguing the bank itself no longer qualifies as an agency of that state. He pointed out that the Afghan banking law the panel relied on – which says the bank’s capital belongs to the state of Afghanistan – is effectively inoperative, and that a 2017 doctoral dissertation cited by the panel simply repeated those now-defunct legal formalities without reflecting who actually controls the institution today. On the TRIA question, Menashi highlighted what he described as a perverse result: under the panel’s timing rule,…
Iran launched multiple waves of missiles at Israel on Tuesday, the Israeli military said, after U.S. President Donald Trump postponed the bombing of the Islamic Republic’s power plants and other energy infrastructure because of what he described as productive talks with Iranian officials. The missiles triggered air raid sirens in Israel, including Tel Aviv, where gaping holes were torn through a multi-story apartment building. It was not immediately clear if the damage was caused by a direct hit or debris from an interception. Israel’s Fire and Rescue Service said they were searching for civilians trapped in one building in Tel…