Clearwater International advises Nexus Underwriting Management Ltd on raising development capital
Clearwater International 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.