Equinox’s adoption of the Nexus Specialty brand was announced after it was decided that the move would allow it to add new product lines to its portfolio and build through acquisition and organic growth.
Nexus Specialty has been a Lloyd’s of London Coverholder for the US and Canada since May 2014 underwriting multi buyer trade credit business.
The company says it has since established itself with a strong reputation and a wide broker network predominantly on a surplus lines basis.
“This is a first for our Trade Credit division complementing the efforts of the US office to successfully build a strong diversified book,” Antje Seiffert-Murphy, Head of Trade Credit USA and Canada, Nexus Specialty.
“The uniqueness of the US market, where local competitors mainly place business on an admitted basis, provided us with the challenge to make more inroads into writing small and mid-market business.
“The qualities and capabilities of Crum & Forster resonate with our philosophy of building long-term strategic partnerships and providing alternative solutions in an ever-changing insurance market.
“This exciting new partnership will allow us to achieve a position where we can access the full competitive advantage from our system, as we will be almost unique in combining non-cancellable limits with an underwriting system more prevalent with cancellable limit underwriters.”
Daniel Sussman, Senior Vice President with Crum & Forster leading its credit initiatives added, “Nexus Group has well known global expertise in multi buyer credit and we are pleased to be partnering with them to complement our growing credit-related businesses.”