Transaction

Clearwater advises Nexus Underwriting Management Ltd on raising development capital

Transaction

Nexus Underwriting Management raised growth capital from A global investment firm

Acquisition finance

Undisclosed

Role

Adviser to Nexus Underwriting Management on raising growth capital from A global investment firm

Sector

Financial Services

Region

United Kingdom

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.

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This debt raising provides Nexus with the ability to satisfy our short-term plans of creating a virtual insurance company through a buy-and-build strategy focusing on profitable, niche MGA's.

Colin Thompson, Chairman, Nexus
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Nexus is a resilient business that has developed a strong platform. The facility will enable the company to continue with its buy-and-build strategy and broaden its services. We look forward to seeing the continued growth of the company.

James Barraclough, Partner, Clearwater

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