Nephila shrinks Florida book in June renewals

Leading Florida carrier Nephila Capital has withdrawn
significant capacity in this year's June renewals, sister
publication Trading Risk reported last
week.
Multiple sources from both the broking and underwriting
communities said that Nephila's participation on programmes had
fallen year-on-year, as it quoted higher-than-market rates or
walked away from softening business.
As well as these pricing-driven reactions, the competitive
impact of the carrier's entry into the primary market also made
i