Nexus began operating in the US in 2017 through the acquisition of Equinox – a Specialist Trade Credit MGA and registered Lloyd’s Coverholder – and Zon Re, which is now known as Nexus Re.
Currently, Nexus underwrites Personal Accident Treaty Reinsurance and Trade Credit lines in the region.
However, it believes formation of Nexus Specialty Inc. will allow it to add new product lines to its portfolio and build through acquisition and organic growth.
“We continue to see fantastic opportunity for growth throughout North America,” said Adam Kembrooke, Chief Executive Officer and President of Nexus US and Nexus Specialty, Inc.
“In addition to the continued investment in the businesses that we have already acquired in the region, we are looking to both our ‘buy and build’ strategy to identify profitable, proven, niche MGAs as well as organic growth into areas we already have substantial expertise across our global operations,” he explained.
“The development of Nexus Specialty will allow us to continue to grow our offering and deliver significant value to our underwriting partners, brokers and policyholders in the future.”
Colin Thompson, Nexus Founder and Group CEO, also commented: “The reorganisation from Equinox Global Inc. to Nexus Specialty Inc. reflects the group’s evolution in the market in readiness for further product lines to be introduced, and the new operation represents another step in Nexus’ overall plan for program growth and expansion in the US.”