LONDON & OAKS, PA — SEI® (NASDAQ: SEIC) announced that it has been chosen by Nephila Capital Ltd., a leading investment manager specializing in reinsurance risk, to provide back- and middle-office operational support across North America and the UK.
Nephila, owned by Markel Group Inc. (NYSE: MKL), manages approximately $7 billion in assets and is one of the world’s largest insurance-linked securities (ILS) managers. With offices in the United States, Bermuda, and the United Kingdom, the company has over 20 years of experience managing institutional assets in the reinsurance industry.
The ILS market, valued at roughly $100 billion, is projected to double to $200 billion by 2032, driving increased demand for operational scalability and efficiency among asset managers. SEI will deliver services including reconciliation, payment processing, automation, data aggregation, workflow streamlining, and investor onboarding to support Nephila’s growth strategy.
“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,” said Sean McDade, head of operations at Nephila. “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.”
Bryan Astheimer, head of SEI’s Investment Managers business for EMEA, emphasized the alignment between the firms: “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.”
With the ILS market poised for significant expansion, SEI’s partnership with Nephila positions both firms to capitalize on increasing investor interest in reinsurance-linked strategies while addressing the operational demands of a growing industry.
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