Investment manager Nephila Capital can now proceed with its Lloyd’s managing agency plans after having received the initial green light.
In an announcement, Nephila said the Lloyd's board has granted in-principle approval, which means Nephila Syndicate Management Ltd (NSM) can forge ahead and submit an application to the Prudential Regulation Authority and Financial Conduct Authority. Once formally authorised, NSM will take over Syndicate 2357, which has been managed by third-party syndicate manager Asta since 2013.
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