Lloyd's sets up $400mn nat-cat facility for emerging market risk

Eight Lloyd's syndicates including Nephila have pledged
$400mn of reinsurance capacity targeted at catastrophe solutions
for under-insured developing economies.
The initial group of syndicates participating in the initiative
are Amlin, Beazley, Hiscox, Mitsui Sumitomo Insurance Group,
Nephila, RenaissanceRe, Tokio Marine Kiln and XL Catlin, although
the corporation said other managing agents were welcome to
join.
The group hopes to work with international organisations
including but not limited