Nexus launches financial lines MGA at Lloyd’s, plans to ‘expand quickly’ into new markets
Independent specialty managing general agent (MGA) Nexus Underwriting has formed a new financial lines division, Nexus Frontier, that promises to bring “something different” to the Lloyd’s of London market.
Frontier is a new financial lines MGA structure for Nexus, where fronted insurance arrangements will be housed in the new division. Nexus will utilise Accredited Insurance (Europe) as its fronting partner, supported by a panel of blue chip reinsurers. This would enable Nexus to have access to broad territorial licenses, allowing Frontier to meet the needs of both insureds as well as brokers.
The division is a first for Nexus at Lloyd’s. It will initially offer commercial D&O, commercial PI, commercial crime, financial institutions D&O, financial institutions PI, financial intuitions crime and pension trustee liability.
Frontier plans to “expand quickly” into new and existing markets in the future.
Frontier will be located at Box number 358 in the Lloyd’s underwriting room. The Lloyd’s box will be manned by the Nexus Frontier team including James Rasmussen, managing director of Nexus Frontier, Alex Mobbs, senior underwriter and Nexus co-founder, and Rebecca Patt, trainee underwriter.
Rasmussen said: “We are absolutely thrilled to be launching Frontier and establishing the business at Lloyd’s. We are particularly excited to bring something slightly different to the market and there is no better place to transact business than at Lloyd’s. Having a presence at Lloyd’s will provide enhanced visibility for our broking partners and complements the already broad distribution channels offered by our wider Financial Lines team.”
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