23 August 2021Nexus Appoints Tan Chai Foo as Head of Treaty Reinsurance, Asia
PRESS RELEASE: Leading independent specialty Managing General Agent Nexus Group (“Nexus”) is pleased to announce the appointment of Tan Chai Foo as Head of Treaty Reinsurance, Asia, to further boost its ambitions in the region.
Based in Kuala Lumpur, Malaysia, Chai Foo will help to expand the existing structured reinsurance activities of Labuan-based Nexus Structured Solutions into more traditional treaty reinsurance business and will report to Nexus Asia Chief Executive Officer Anthony Egerton.
An Actuarial Science Graduate with a Master’s Degree in Business Administration, Chai Foo has been underwriting treaty reinsurance across the Asia-Pacific regional marketplace on behalf of Labuan-based reinsurers for the last ten years. Most recently, he headed the reinsurance department and was a member of the executive management team of Progressive Insurance Bhd, Malaysia.
Gerard Pennefather, Nexus Asia Chairman, said: “I am delighted that someone of Chai Foo’s calibre is joining the team as this clearly demonstrates Nexus’ strong commitment to expansion in the region. Chai Foo will drive forward our treaty reinsurance business in Asia including China and will work with existing Nexus colleagues in Hong Kong and Labuan to develop and implement our overall strategy.”
“Chai Foo’s appointment follows on from and fits alongside the appointment of Justin Yeo as Head of Asia, Nexus Accident & Health this time last year. These two experienced individuals provide a comprehensive and complementary reinsurance service to the marketplace across both P&C and A&H segments,” he continued.
Tan Chai Foo, Head of Treaty Reinsurance, Asia, added: “I’m pleased and excited to be part of the Nexus team as I believe that given the inherent strengths of Nexus and its people, we have a great opportunity to develop and build the Asian reinsurance portfolio by adding value and providing innovative solutions for brokers and clients.”
Nexus established a presence in the Asia region in June 2015 and now employs 14 people focusing on delivering the specialist expertise associated with a global MGA. Classes of business already underwritten and marketed out of the Nexus offices in Hong Kong and Labuan include Marine Cargo, Financial Lines, Specialist Property, Accident & Health and Structured Solutions.