Clearwater has advised specialty Managing General Agent (MGA) Nexus Underwriting Management Ltd (Nexus) on raising growth capital to support further M&A activity.
Founded in October 2008, Nexus is a specialty MGA and “virtual” insurance company, concentrating on niche classes of business such as Trade Credit; Accident and Health; Financial Lines and Travel amongst many others.
Now the largest and most profitable independent specialty MGA in the UK market, the business will deliver £200m (c.€227m) GWP (gross written premium) in 2018, operate in 8 countries and will be supported by over 30 underwriting partners worldwide.
This investment from a new funding partner, along with additional funding from existing shareholder and investor, BP Marsh & Partners Plc, allows Nexus to continue its dynamic growth plan, strengthen its platform and extend its product offering, through strategic acquisitions of profitable, niche businesses.
