Headed up by James Lawrie, Apsley Specialty is a registered and approved Lloyd's Coverholder established in 2012 and, as part of the acquisition, James will join the board of Nexus Underwriting Limited whilst both brands will continue to operate as they currently do.
Following this transaction and the resultant expansion of Nexus Financial Lines, James will become Managing Director and lead the combined Directors and Officers and Financial Institutions business, Jamie Ricketts will become Chief Underwriting Officer, and both will join the board of Nexus Underwriting Limited. Joanne Edgley, already a director of Nexus Underwriting Limited, will lead Nexus’ commercial Professional Indemnity division as Managing Director.
The strength and breadth of this combined management team for Nexus Financial Lines will enable us to significantly develop this core capability beyond its impressive development to date. Colin Thompson commented: “Apsley Specialty is a fast growing high quality MGA that will complement our existing DOFI capabilities, especially in terms of geography with Apsley’s US capacity. In a competitive market, Apsley grew its GWP 64% from 2016 to 2017, whilst still maintaining excellent underwriting discipline and strong loss ratio performance. This is testament to the high calibre individuals within the business As a group, we are targeting three acquisitions per annum, and this is just the sort of niche business with an auditable profitable underwriting track record that we can seamlessly bring into the business alongside some larger transformational deals.”