SEI has announced that the company was selected by Nephila Capital, an investment manager specialising in reinsurance risk, to support its back and middle office operations across North America and the UK.
Nephila has managed institutional assets in the reinsurance industry for more than 20 years.
Owned by Markel Group, Nephila has offices in the US, Bermuda, and the UK, and is one of the largest insurance-linked securities (ILS) managers globally, with approximately US$7 billion in assets under management.
According to the firm, asset managers like Nephila are seeking partners with the ability to provide comprehensive services, including reconciliation, payment processing, automation, data aggregation, streamlined workflows, and investor onboarding to enhance efficiency and support their business.
Sean McDade, head of operations at Nephila, says: “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.”
Bryan Astheimer, head of SEI’s investment managers business, EMEA, adds: “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. Their prominence stands out among the complex ILS industry, and we look forward to supporting their long-term growth.”
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