Nephila extends State National tie-up

Nephila Capital has added two years to the term of its exclusive
tie-up with fronting provider State National, extending the
arrangement until 2019.
Nephila has agreed to pay minimum fees to write primary
insurance business using State National's paper, with the
two-year extension worth another $27mn.
The deal commits Nephila to paying the fronting carrier at least
$12.5mn in fees in 2018 and $15mn the year after.
The new agreement also delayed the timing of the minimum premium
Nephila has...