Neptune Flood, a prominent provider of private flood insurance in the United States, has announced a new partnership with Somers Syndicate 3705, a Lloyd’s syndicate. This collaboration is set to increase Neptune Flood’s underwriting capacity, supporting its range of insurance products.
The addition of Somers Syndicate 3705 expands Neptune Flood’s network of global insurance partners, indicating continued interest from leading carriers in the private flood insurance sector. Matt Duffy, President of Neptune Flood, stated, “Both Neptune and Somers are strongly aligned on the future of the private market in flood insurance, and we are excited to continue growing our capacity provider panel with a respected insurance group via the Lloyd’s market. This partnership facilitates our ongoing growth in the US flood market as private insurers play an increasingly important role in protecting homeowners and businesses.”
Somers Syndicate 3705 operates as the Lloyd’s insurance arm of Somers Re Ltd, a global insurance and reinsurance organization recognized for its experience in specialty insurance markets. David Booth, Active Underwriter of Syndicate 3705, commented on the partnership, “Neptune Flood has built a strong platform focused on data, technology, and underwriting discipline. Through this transaction, Syndicate 3705 and Somers are pleased to grow our Lloyd’s platform with a pre-eminent partner in Neptune Flood. We look forward to the continued growth of the relationship.”
Founded in 2018, Neptune Flood functions as a data-driven managing general agent (MGA), offering residential and commercial insurance products, including primary and excess flood coverage. The company utilizes proprietary artificial intelligence (AI) and advanced data science to streamline underwriting, pricing, and policy issuance, operating without human underwriters. As of September 30, 2025, Neptune Flood reported over 260,000 policies in force nationwide. Acrisure Re provided support for the transaction and will serve as the Lloyd’s broker for the new relationship.
