Group Executive Chairman,
Nexus Underwriting Management Ltd
" Now that the acquisitions of EBA and Millstream are complete, it is important that we continue to look to the future and to build a management structure that will enable us to continue to grow and develop into the foreseeable future.
We are now a Group of over 120 people, with employees in four countries underwriting an innovative range of insurance products, which means that we are now underwriting in excess of US$200 million Gross Written Premium per annum. "
Group Chief Executive Officer,
Nexus Underwriting Management Ltd
"I am very excited to have joined such an innovative and successful company that has pursued a dynamic growth path into Specialty Lines insurance, underwriting a vast array of complex insurance products to become one of the largest and most profitable independent specialty MGAs in the London market.
The Group has made a profit every quarter since it started and I look forward to developing the business further on every level as we continue to strengthen the Group, attract further high calibre people and expand our underwriting reach. "
Founded in October 2008, the Nexus Group is a specialty Managing General Agent (MGA) on a dynamic growth path, concentrating on niche classes of business and delivering excellent service and cutting edge products.
Now one of the largest and most profitable independent specialty MGAs in the London market, gross written premium is due to surpass US$200 million in 2015.
The group has made profit every quarter since it started and cumulative gross written premium of more than US$500 million has been produced for the London market. The Nexus Group currently has 23 underwriting partners who support their product offerings up to the following limits of liability for these Specialty classes of business:
Non Marine Property – US$10m Limit of Liability
Directors and Officers – £20m Limit of Liability
Financial Institutions – £10m Limit of Liability
Professional Indemnity – £15m Limit of Liability
Trade Credit – £20m Limit of Liability for Whole turnover and US$20m Limit of Liability for Single Situation
Accident & Health – £50m Limit of Liability (max cover for Group Life)
Property & Casualty – Employers Liability - £10m Limit of Liability
Property & Casualty – Public Liability - £5m Limit of Liability
Property & Casualty – Office - £1.2m Limit of Liability
Accident and Health Term Life Assurance - maximum per life limit up to £2m and event aggregate up to £50m Limit of Liability
In another move to further its growth strategy, in November 2015 Nexus Underwriting Asia (NUA) was launched in Hong Kong to replicate the existing successful portfolio currently underwritten by the Nexus Group in London with other classes of business to be introduced during 2016. The acquisition of EBA Insurance Services in August 2015 saw Nexus now being able to offer an extended product range that includes Surety, Bond, Dommages à l’Ouvrage, Fine Art and Specie Insurance, Life and Event Cancellation.
The Nexus Group also acquired Millstream Underwriting Limited in December 2015. Established in 1999 Millstream is a leading niche player in the UK Accident & Health insurance sector providing expert underwriting and scheme management services, specialising in travel, personal accident and sickness programmes for retail, affinity and employee groups.
Nexus Underwriting Management Limited, Company Number 07055303 is registered in England and Wales. It is the holding company for Nexus Underwriting Limited, Nexus CIFS Limited, EBA Insurance Services Limited and Millstream Underwriting Ltd.
Nexus Underwriting Ltd is authorised and regulated by the Financial Conduct Authority. FCA No: 494805 Nexus CIFS Limited is an Appointed Representative of Nexus Underwriting Limited, which is authorised and regulated by the FCA. EBA Insurance Services Ltd is authorised and regulated by the Financial Conduct Authority. FCA No: 307412 Millstream Ltd is authorised and regulated by the Financial Conduct Authority. FCA No: 308584.
The Nexus Group employ over 120 people
Gross Written Premium to exceed US$250m this year
Colin Thompson (Executive Chairman), Ian Whistondale (NED), Hugh Morland (Deputy Chairman), Dan Topping(NED), Stuart Rouse (CFO/COO), Tim Coles (CEO), Jeremy Adams (NED).
Holding company for Nexus Underwriting Ltd, EBA Insurance Services Ltd, Nexus CIFS Ltd, Nexus Underwriting Asia (Holdings) Ltd, Millstream Underwriting Ltd. No requirement for FCA authorisation.