MGA launches in Hong Kong under former Nexus executive
London-based insurance broker HWI International Group is launching a new managing general agent (MGA) in Hong Kong to begin underwriting on July 1, 2018.
NuVu Underwriting Hong Kong will be headed up by industry veteran Jeremy Austen as principal officer and CEO. Austen has 30 years of experience in the industry. He established Arthur J Gallagher’s Asia operation in 1999 before helping set up Talbot Syndicate in Singapore in 2007, and Nexus Underwriting Asia in Hong Kong in 2015 and was principal officer of Nexus Asia until 2016.
The new MGA will initially focus on property, marine, specie, fine art, personal accident and terrorism within the Asian region. HWI has an established NuVu office in Madrid, Spain. The new MGA will mark the first move into Asia for the NuVu platform and is part of the company's plan to expand in Hong Kong and worldwide.
“There has been significant growth and success in the MGA space globally, and this is set to continue as more and more underwriters look to MGAs to control their own destiny,” said Austen. “Being in Hong Kong will broaden the scope and reach of NuVu Underwriting’s distribution partnerships as well as create diversity to our existing portfolio.”
HWI International Group director Steven Rudduck, commented: “Hong Kong’s position as a major insurance hub in the Asia-Pacific region makes it the ideal location to launch NuVu Underwriting as part of the next phase of our growth strategy.”
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