Nexus unites trade credit brokers to enhance growth opportunities

Specialty managing general agent (MGA) Nexus Group is set to unite its trade credit brokers under the Xenia trading name, in a move aimed at streamlining operations and enhancing growth opportunities in the specialist trade credit and surety market.

Nexus acquired Credit Risk Solutions in October 2017 and Credit and Business Finance in April 2019.

Xenia is a specialist trade credit and surety brokers in the UK, with circa 20 percent market share of trade credit insurance distribution. Nexus launched Xenia Broking Group in March 2019 when Tim Coles became CEO of Xenia alongside his role as Nexus Group COO.

“Xenia’s formation is an exciting evolution for the credit insurance and surety markets," said Coles, CEO of Xenia. "The businesses that together constitute the new Xenia possess exceptional talent and deep expertise that, together with our unmitigated focus on client service, enable us to raise the bar on delivery of exceptional solutions for our clients, no matter how complex the challenge.

"We are the true focused specialists in our sector and the unified business will be able to provide exceptional opportunities for our clients and to those that share our values and want to be part of our journey. We believe that our distinctive new brand and compelling proposition will stand out in the marketplace. They capture who we are as a business - focused, modern and dynamic with an entrepreneurial culture. We have a hugely exciting future with much to achieve!”