State National profits tick up

Net profits at fronting carrier State National increased by 3.2
percent to $10.0mn in the second quarter, as ceding fees climbed by
3.3 percent to $16.9mn.
The insurer's fronting relationship with Nephila continued
to grow, with ceding fees from the insurance-linked securities fund
manager climbing from $5.2mn to $5.5mn in the first six months of
2016.
Overall, the business reported revenues of $49mn for the period,
up 6 percent from $46.4mn in the second quarter of 2015.The carrier's chairman..