Allianz Risk Transfer (ART) has announced that they have finalised an agreement securing another three years of risk capacity for Bermuda-based Nephila Capital, which is a leading investment manager specialising in insurance-linked securities.The formal move further cements a long-standing relationship between the two companies that has spanned more than a decade and demonstrates their commitment to the growing ILS marketplace.Under the agreement, ART, the specialist alternative risk transfer business division within the Allianz Group, will continue to assist Nephila in its natural catastrophe and weather risk strategies, providing specialised services, such as balance sheet access, non-recourse leverage and other flexibility.According to both companies, the move is mutually beneficial in that the extension enhances Nephila’s ability to offer its clients a portfolio of diversified and high quality investment alternatives while continuing to diversify ART’s business lines.“ART and Nephila have been working together from the earliest days of the insurance linked investment fund market,” said Bill Guffey, chief underwriting officer of Allianz Risk Transfer Group.“We have consistently been at the forefront of the markets’ developments and have mutually benefited from the growth in our respective businesses.“We wanted to cement that continuing relationship and send a clear message to our respective shareholders/investors and the market that we are both committed to this business model and its ongoing evolution.”Nephila’s Management Committee added: “We are extremely grateful for the significant contributions ART has made to Nephila over the years.“They have been an outstanding trading partner for more than 10 years, during which their flexibility and creativity have generated significant value for our investors.“We are very appreciative that ART has made this commitment to Nephila, and we look forward to working together for many more years.”