Find out more about investing at Lloyd’s here
and about the London Bridge Risk PCC here
London Bridge Risk PCC was sponsored by Lloyd’s as part of its Future at Lloyd’s strategy
Lloyd’s acted as the sponsor for the application to form the new PCC. The PCC will be owned by an Orphan Charitable Trust, providing an independently managed Transformer vehicle to the market, directly regulated by the PRA and FCA. London Bridge Risk PCC Limited will provide independent services to investors and Members of Lloyd’s. Day-to-day management will be provided by Horseshoe Ltd with overall responsibility for running the PCC resting with the Board of London Bridge Risk PCC Ltd.
The London Bridge Risk PCC Ltd Board is made up of three Directors: Mike Baker from Horseshoe as the CFO, Helena Whitaker from Intertrust Ltd as the CEO, and Mark Dyson from Lloyd’s as the Chair.
London Bridge Risk PCC Limited’s insurance management services will be provided by Horseshoe, who specialise in the management of ILS vehicles and operate across multiple jurisdictions.
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Lloyd’s is the world’s leading insurance and reinsurance marketplace. Through the collective intelligence and risk-sharing expertise of the market’s underwriters and brokers, Lloyd’s helps to create a braver world.
The Lloyd’s market provides the leadership and insight to anticipate and understand risk, and the knowledge to develop relevant, new and innovative forms of insurance for customers globally.
It offers the efficiencies of shared resources and services in a marketplace that covers and shares risks from more than 200 territories, in any industry, at any scale.
And it promises a trusted, enduring partnership built on the confidence that Lloyd’s protects what matters most: helping people, businesses and communities to recover in times of need.
The Future at Lloyd's sets out our strategy to build the most advanced insurance marketplace in the world.
About Nephila Capital
Nephila is a leading investment manager specializing in catastrophe and non-catastrophe specialty (re)insurance, climate, and weather risk. The firm has been active in the ILS markets since launching its first fund in 1998 and offers a broad range of investment products focusing on instruments such as insurance-linked securities, catastrophe bonds, insurance swaps, and private transactions across its robust platform. Nephila has approximately $9.3 billion in assets under management as of November 1, 2021 and is headquartered in Bermuda, with offices in San Francisco, CA, Nashville, TN, and London. There are currently over 130 employees across its various business lines with expertise in finance, seismic engineering, catastrophe modeling, risk management and traditional underwriting.
About Nephila Syndicate Management Ltd
Nephila Syndicate Management Ltd is Nephila’s managing agency at Lloyd’s. Syndicate 2357 was the first syndicate at Lloyd’s to be wholly backed by capital from managed ILS portfolios raised from institutional investors. It is wholly supported by investment funds managed by Nephila Capital and writes Property Catastrophe Reinsurance, US insurance and weather risk business.
Horseshoe, an Artex Risk Solutions company, is the world’s largest Insurance Linked Securities (ILS) service provider, leading the way in integrated ILS solutions and fund services. With over 100 professionals and operating globally, Horseshoe specializes in insurance management, risk transformation, fund administration, actuarial advisory and corporate services. Please visit www.horseshoeglobal.com
for more details.