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Bermuda's Leaders Part II - Service Providers & ILS Specialists 2016

relationships within the reinsurance market. Bermuda has since proved to be the jurisdiction of choice for many reinsurance companies, as demonstrated by the number of startup companies following the terrorist attacks of 9/11 and the hurricanes of 2005. Bermuda is considered the centre of catastrophe reinsurance expertise, and is now one of the largest reinsurance markets in the world, estimated to provide over 50 percent of the worldwide property catastrophe capacity. In 2010 Nephila Advisors was established, predominantly to assist in investor relations, develop strategic trading relationships and business development in the US. BERMUDA’S LEADERS PART II At Nephila Capital, Adolfo Peña has the role of chief investment officer, working as the chair of the investment committee and ultimately responsible for strategy, trading and portfolio construction. He joined the company in September 2005 and previously worked at Risk Management Solutions where he worked in model development and special analysis projects such as catastrophe bonds giving him an entry into what was then the new field of insurance-linked securities. Peña has a BSc/MSc in civil engineering from UNAM, and an MEng in structural engineering, mechanics and materials from UC Berkeley and an MSc in financial engineering from UC Berkeley. Nephila Capital was founded in 1997 in London as part of Willis, at the time the world’s third largest reinsurance broker. As part of its growth strategy, the company relocated to Bermuda in 1999 in order to establish a local presence and to deepen existing relationships in the world’s largest catastrophe reinsurance centre. Nephila’s investment philosophy is based on the premise that institutional investors are attracted to the non-correlated, relatively high-yielding returns offered by insurance-linked instruments. The instruments in which Nephila invests have evolved over time, along with investors’ risk appetite. The company currently manages multiple investment vehicles exclusively for sophisticated institutional investors. In addition to insurance-linked instruments, which are predominantly focused on natural catastrophe risk, the company has been trading weather risk since 2000 and launched a dedicated weather vehicle in 2005. Nephila relocated from London to Bermuda in 1999. At the time Bermuda was viewed as a rapidly evolving reinsurance market and the move was considered essential to grow the business and to deepen the existing “The company has been trading weather risk since 2000 and launched a dedicated weather vehicle in 2005.” Adolfo Peña Job title: Partner and chief investment officer Company: Nephila Capital 37 2016 Bermuda:Re/insurance+ILS


Bermuda's Leaders Part II - Service Providers & ILS Specialists 2016
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