Markel completed the acquisition of Nephilia from Man Group.

Markel, a financial holding company serving a variety of niche markets, completed the acquisition of Nephilia, a pre-eminent insurance-linked securities manager, from Man Group, an active management business. Financial terms were not disclosed. Financial terms were not disclosed. "We are excited to welcome Nephila to the Markel team. Frank Majors and Greg Hagood have built the industry's pre-eminent and longest-tenured insurance-linked securities manager. With a proven 20 year track record of success, they bring with them an incredibly experienced and talented management team and a culture of creativity, innovation and excellence that exemplifies the Markel Style. The addition of Nephila to Markel's insurance, reinsurance, insurtech, fronting, and existing insurance-linked securities capabilities will enhance and strengthen the breadth and depth of Markel's offerings to policyholders, producers and investors," Richie Whitt, Markel Co-CEO.