Nexus appoints Lloyd’s Tony Egerton as Asia CEO; seeks to become "largest specialty MGA" by 2021
Specialty managing general agent (MGA) Nexus Group has appointed former Lloyd’s Asia Pacific president Tony Egerton as CEO of Nexus Asia, and Huntington Group managing director Gerard Pennefather as its non-executive chairman.
Egerton has spent past 20 years in the Asian re/insurance market where he initially worked in Hong Kong with Centre Solutions (Zurich Group’s finite risk and structured finance subsidiary) before becoming president, Asia-Pacific for Lloyd’s, based in Singapore. He joined Nexus in August 2018.
Egerton will be responsible for leading the company's future expansion across the Asian market. Nexus said its goal over the next two years is to "become the largest specialty MGA in the region, generating $50+ million GWP and $3.5 million EBITDA".
Pennefather, who is taking on the non-executive chairman position in addition to his role as chairman of Nexus Structured Solutions, will assist the company in generating future M&A and other growth opportunities in the region.
Pennefather founded WP Capital and the Huntington Group in 2001, which owns, operates and invests in companies focused on the insurance as well as human capital industry. He has spent 12 years in corporate finance and treasury in New Zealand with New Zealand Equities and Ord Minett (now part of JP Morgan Chase).
Colin Thompson, founder and group CEO of Nexus, said: “I’m delighted to announce these internal appointments, Tony being promoted to CEO of Nexus Asia and Gerard to Non-Executive Chairman - it would be difficult to find higher calibre individuals to strengthen the leadership team.
"As we strive to continue building our size, scale and relevance in the Asian market through organic growth, as well as manage a busy pipeline of M&A opportunities and a number of other strategic initiatives, this appointment is recognition of the fantastic contribution Tony has made to the group in the short period of time since our acquisition of Nexus Structured Solutions (formerly Huntington Underwriting) in August 2018, where he is Principal Officer and will continue to run the business alongside his new duties.
