Nexus taps Allianz for president of new specialty casualty unit
Specialty Managing General Agent Nexus Underwriting has hired a senior executive from Allianz Global Corporate & Specialty as president of a newly launched specialty casualty business.
Christof Bentele has run specialty casualty teams at Aon, JLT group and, most recently, Allianz Global Corporate & Specialty where he was a director within the Alternative Risk business.
Adam Kembrooke, CEO and president, Nexus Underwriting US, said: “Since starting our US business, Nexus has concentrated on putting together a panel of bluechip ‘A’-rated insurance carriers and reinsurers that is truly second to none in the market, and I am delighted that this will now be well and truly augmented with someone of Christof’s calibre joining us.
“We are looking forward to building this new division with Christof, starting with Product Recall but with strong ambitions to expand across many diverse product lines in the future. The product recall offering will give coverage to businesses in the areas of food and beverage, consumer goods and automotive component parts industries with limits of up to $10m offered on a primary and excess basis.”
Bentele added: “I am honored to lead the launching of this new Specialty Casualty division within Nexus and continue the fantastic success and growth story that it has enjoyed since expanding into the US which, since 2019, has seen the company increase both its EBITDA and GWP by 400% despite the challenges of the COVID 19 pandemic.
“I’m delighted to be joining Adam and his team at such an exciting time with one significant strategic partnership with an ‘A’ rated insurance and reinsurance company already in place, whereby a rolling arrangement enables Nexus to establish this new Specialty Casualty division that will deliver forward-thinking products in a staggered timeframe as part of its organic build strategy in the US. The agreement will also see us launch multiple innovative product lines in the future as part of our mutual long-term and shared ambitions.”
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