US private flood insurance provider Neptune Flood has entered into a strategic partnership with Somers Syndicate 3705 to provide additional underwriting capacity to support its range of insurance products.
Somers Syndicate 3705 is the Lloyd’s insurance business of Somers Re Ltd. Somers Re Ltd is a global insurance and reinsurer with extensive experience in the specialty insurance market.
By joining Somers, Neptune Flood further expands its roster of highly rated global insurance partners, reflecting continued interest from leading insurers in the private flood insurance market.
Neptune Flood leverages proprietary technology, advanced data science and automated underwriting to deliver insurance products, including its flagship private flood insurance product. As of September 30, 2025, the insurance company had more than 260,ooo policies nationwide.
Acrisure Re is supporting the transaction and will act as broker for the Lloyd’s relationship.
Matt Duffy, President of Neptune Flood, commented: “Neptune and Somers share a strong vision for the future of the private market for flood insurance and we are delighted to continue to grow our capacity provider panel through the Lloyds market with a respected insurance group.
“This partnership facilitates our continued growth in the U.S. flood market as private insurance companies play an increasingly important role in protecting homeowners and businesses.”
David Booth, active underwriter at Syndicate 3705, added: “Neptune Flood has built a powerful platform focused on data, technology and underwriting discipline.
“With this transaction, Syndicate 3705 and Somers are excited to grow our Lloyd’s platform with an outstanding partner in Neptune Flood. We look forward to the continued growth of this relationship.”