News Article

Credit Insurance

Nexus CIFS launches new single risk credit division

By CreditMan Tuesday, November 12, 2013

Nexus CIFS Limited, the credit insurance subsidiary of leading specialist Lloyd’s MGA, Nexus Underwriting Management Limited, has recruited a new team and established an exclusive division that will focus on single situation credit risk business in the Lloyd’s market.

Colin Thompson, Group Chief Executive Officer of Nexus, said this initiative further enhances the group's reputation for dynamic diversification:

"Success breeds success, and this continues our strategy of providing specialist underwriting for brokers that covers specific classes of insurance over many kinds of businesses - all from one place."

The new team will be led by James Steele-Perkins who has more than 20 years specialist experience in trade credit, structured trade credit and political risk underwriting with Starr Underwriting, Willis, Chubb and Ace Group. He will join Nexus CIFS Limited (trades as CIFS) in February 2014 and will be supported by experienced credit insurance practitioner, Adam Clark.

Commenting on the set up of the new CIFS single risk division Bob Lilley, Managing Director, Nexus CIFS Limited, said:

“We’ve put in place entirely new underwriting arrangements for the team, supported by strong reputable capacity providers at Lloyd’s, and are confident that James’ market reputation together with Nexus’ backing will enable him to build a significant position in this market."

"It’s a sector that’s growing rapidly as traders and financial institutions seek to mitigate the risks of expanding international business - particularly in emerging markets," he added.

About Nexus

Nexus Underwriting Management Limited is a unique and innovative private equity backed vehicle, offering fast, efficient and economical growth into the specialty lines market place for our insurers by first-rate portfolio management.

Nexus now has 12 Underwriting Partners who support their product offerings and a policy count in excess of 21,000 over four Specialty areas:

Directors and Officers Liability
Financial Institutions
Professional Indemnity
Trade Credit

For more information, please contact:
Colin Thompson
Chief Executive Officer
The Nexus Group
Tel: +44 (0)20 3102 4273
Mobile: +44 (0) 7595106939