11 August 2015 Insurance

Nexus acquires specialist MGA

Specialty managing general agent (MGA), Nexus Underwriting, has acquired specialist MGA and Lloyd’s service provider EBA Insurance Services.

Founded in 1999, EBA Insurance Services serves European and worldwide clients and produces €30 million gross written premiums per year.

As part of the transaction, Simon Barker will become managing director of EBA Insurance Services, Christina Spelman will remain as chief underwriting officer and Tony McCallum will become a non-executive director.

Colin Thompson, group chief executive officer of Nexus, said: "We identified some time ago that EBA were an excellent partner to be brought into the group to grow our MGA business as they have built up a high profile in Europe, especially France and Italy, and have an excellent product range that dovetails in well with ours, all of which will open up new channels of business for Nexus.”

“In conjunction with this, the recent increased investment by BP Marsh & Partners is extremely welcome and their proactive support is enabling us to continue our planned expansion strategy whereby Nexus maps out growth and extended underwriting reach through potential MGA acquisitions,” Thompson added.

Simon Barker, managing director of EBA Insurance Services, added: “EBA has sought a dedicated MGA partner who underwrites and manages programmes in the multiple jurisdictions we cover.

“Allied with our multilingual team renowned for quality of service, responsiveness and technical expertise, we are confident that we will fit in well with the Nexus way of doing business and are delighted that this deal has come to fruition.”

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