Design Highlights
- Neptune Flood partnered with Somers Syndicate 3705 at Lloyd’s to enhance its underwriting capacity and revolutionize private flood insurance offerings.
- The alliance leverages Somers Syndicate’s expertise in specialty insurance markets, focusing on modern flood risk assessment methods.
- With 260,000 active policies, Neptune Flood aims to address the growing demand for private flood insurance in high-risk areas.
- The partnership emphasizes a data-driven approach, improving risk assessment and pricing to protect homes against climate change-related flooding.
- This collaboration positions both companies as innovators in the flood insurance market, responding to the increasing need for effective coverage solutions.
Neptune Flood just made a bold move, shaking hands with Somers Syndicate 3705 at Lloyd’s to score some serious underwriting capacity. This isn’t just any partnership; it’s a game changer. Announced on January 6, 2026, this alliance is set to supercharge Neptune Flood‘s insurance offerings.
Neptune Flood’s groundbreaking partnership with Somers Syndicate 3705 promises to revolutionize private flood insurance offerings.
And let’s be clear—this is about more than just numbers. It’s about positioning Neptune Flood as a front-runner in private flood insurance, a market that’s been crying out for innovation.
Somers Syndicate 3705, the Lloyd’s insurance arm of Somers Re Ltd, isn’t just some fly-by-night operation. They’ve got experience. They know the specialty insurance markets inside and out.
Neptune Flood, meanwhile, has been busy building a tech-heavy platform, with over 260,000 active policies as of September 30, 2025. That’s a lot of homeowners and businesses relying on them to keep their heads above water—literally.
Matt Duffy, Neptune’s President, couldn’t contain his excitement. He talked about how this partnership aligns with the future of the private flood market. This partnership also reflects the continued interest from carriers in the private flood insurance market.
It’s a timely move, especially considering there are nearly 10 million high-risk properties that FEMA’s maps conveniently forgot to include. Let’s just say, if that’s not a wake-up call for the industry, what is?
David Booth from Syndicate 3705 echoed this sentiment. He praised Neptune’s data and tech focus and showed delight in expanding their relationship.
It’s the kind of synergy that makes industry insiders sit up and take notice. More capacity means more flexibility, and that’s vital in a time when flood insurance is needed more than ever.
But let’s get real here. Private flood insurance isn’t just about protecting homes; it’s about survival.
The partnership signals a shift in how flood risks are assessed—using modern tech instead of outdated FEMA maps. Neptune is stepping up, ready to tackle the 13 million high-risk properties that either have no coverage or pitifully low limits.
And with over 211,000 new homes popping up in unmapped, high-risk areas, the demand for private flood insurance is only going to rise. Much like how businesses calculate their workers compensation premiums based on payroll and risk factors, Neptune’s tech-driven approach allows for more accurate risk assessment and pricing in flood insurance.
