Neptune Flood, a private flood insurance provider in the United States, has entered into a strategic partnership with Somers Syndicate 3705 to add underwriting capacity in support of its insurance offerings. The agreement strengthens Neptune Flood’s ability to meet growing demand in the private flood insurance market.
Somers Syndicate 3705 is the Lloyd’s insurance operation of Somers Re Ltd, a global insurance and reinsurance firm with extensive experience across specialty insurance markets. The addition of Somers further broadens Neptune Flood’s panel of highly rated global insurance partners and reflects continued interest from leading carriers in the private flood sector.
Neptune Flood delivers its products through proprietary technology, advanced data science, and automated underwriting, including its flagship private flood insurance offerings. As of September 30, 2025, the company has more than 260,000 policies in force nationwide.
Acrisure Re supported the transaction and will serve as Lloyd’s broker for the partnership, facilitating the relationship between Neptune Flood and Somers Syndicate 3705.
Matt Duffy, President of Neptune Flood, commented, “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.”
David Booth, Active Underwriter of Syndicate 3705, added, “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.”
