January 6, 2020
New York, USA, 6th January, 2020: Nexus Specialty Inc. part of leading MGA Nexus Group today announces that it has agreed to a wide ranging new program agreement with A rated Crum & Forster that allows Nexus to underwrite their market leading trade credit products on a fully admitted basis in the US.
Nexus Specialty Inc. has been a Lloydtrade credit business, and has now established itself firmly in this domestic market with a strong reputation and a wide broker network predominantly on a surplus lines basis.
Antje Seiffert-Murphy, Head of Trade Credit USA and Canada, Nexus Specialty Inc. said:
book. The uniqueness of the US market, where local competitors mainly place business on an admitted basis, provided us with the challenge to make more inroads into writing small and mid-market business. The qualities and capabilities of Crum & Forster resonate with our philosophy of building long-term strategic partnerships and providing alternative solutions in an ever-changing insurance market.
This exciting new partnership will allow us to achieve a position where we can access the full competitive advantage from our system, as we will be almost unique in combining non-cancellable limits with an underwriting system more prevalent with cancellable limit underwriters.
Daniel Sussman, Senior Vice President with Crum & Forster leading its credit initiatives said: our growing credit-related businesses.
This announcement follows the launch of Nexus Specialty Inc. as a rebrand of Equinox Global Inc. in November 2019 which further enabled Nexus Group to extend its reach and product lines in the US.
Notes for Editors
About the Nexus Group
Founded in 2008 and based in London, UK, the Nexus Group is a leading, independent, specialty Managing General Agent (MGA) with a focus on niche insurance classes of business writing almost $500 million of premium in 2019.
Nexus employs over 250 staff and is represented in nine countries: UK, Ireland, France, Germany, Italy, The Netherlands, USA, China (Hong Kong SAR) and Malaysia (Labuan FT).
Nexus is focused on delivering a flexible, original and meticulous underwriting service to its broker partners and policyholders on behalf of over 30 insurer partners.
For more information please visit: www.nexusunderwriting.com
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Crum & Forster is a leading national property and casualty insurer, providing specialty insurance products through their admitted and surplus lines insurance companies.
Founded in 1822, Crum & Forster is one of the oldest U.S. insurance companies, and today has more than 2,300 employees across the country conducting business through a network of independent agents, brokers and wholesalers. Crum & Forster has $2.8 billion in gross written premium and is rated
Crum & Forster is part of Fairfax Financial Holdings Limited, a holding company based in Toronto, Canada which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and the associated investment management.
Crum & Forster is a registered trademark of United States Fire Insurance Company.
For more information please visit: https://www.cfins.com