Nephila Capital, one of the world’s largest and longest-standing insurance-linked securities (ILS) managers, has selected financial technology provider SEI to support its back and middle-office operations in both North America and the UK, as the manager continues to grow its presence in the ILS market.Markel-owned Nephila has offices in the U.S., Bermuda, and the UK, and , is one of the largest ILS managers globally.The ILS market continues to expand, with 2025 already a record year for catastrophe bond issuance, according to Artemis’ data, and SEI says that with the market projected to nearly double in size by 2032, citing a Jefferies report, ILS managers such as Nephila are looking for strategic partners that can provide comprehensive services.This includes things like reconciliation, payment processing, automation, data aggregation, streamlined workflows, and investor onboarding, all with the view to enhancing efficiency and supporting businesses.

“As we continue to focus on providing investors with positive returns and growing our established presence in the ILS market, we sought a strategic partner with a proven track record of managing complex products, providing a scalable infrastructure, and aligning with a client-centric culture,” said Sean McDade, Head of Operations at Nephila.“SEI was built with technology at its core, and their breadth of solutions not only met our criteria, but can be tailored to help us achieve our strategic goals.Their unique industry position, proven expertise, and innovative capabilities will enable efficiency, scale, and our growth,” he added.

Bryan Astheimer, Head of SEI’s Investment Managers business, EMEA, said, “Regardless of location or industry, our clients can benefit from our global footprint, stability, and working with a team that’s closely aligned with their culture.We’re thrilled to partner with Nephila to support their back- and middle-office operations.Their prominence stands out among the complex ILS industry, and we look forward to supporting their long-term growth.” Last week, , as co-founder Frank Majors steps back to focus on portfolio construction..

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