Nexus Underwriting Administration Ltd. (NUML), the London-based impartial specialty managing common agent, introduced it is going to be renamed Kentro Capital Ltd.
Nexus Underwriting (Nexus), the specialty managing common agent, and Xenia Broking (Xenia), the main credit score insurance coverage and surety distribution specialist, will function as distinct, impartial manufacturers below the Kentro holding firm.
Colin Thompson will proceed to steer Kentro as chief govt officer. Tim Coles will stay chief govt officer of Xenia and Colin Thompson will proceed as chief govt officer of Nexus.
The change of identify to Kentro – the Greek phrase for “centre” – grew to become efficient on Feb. 22, 2022.
“Nexus at this time underwrites in extra of US$500 million gross written premium, is the product of 15 acquisitions, operates out of 9 counties and really a lot has its personal distinct model as a number one MGA platform,” commented Thompson, founder and CEO of Kentro.
“Equally, Xenia is the second largest commerce credit score dealer within the UK – having efficiently concluded eight acquisitions and using in extra of 70 workers – and is now a number one specialty broking platform,” he added.
Because the group began in 2008, it has “loved unparalleled success” with a bunch EBITDA compound annual progress price (CAGR) of 30%, Thompson mentioned.
“It’s clear as we proceed alongside this growth path – and so as to proceed alongside this trajectory – that our branded companies have to proceed to forge their very own distinctive identities,” he continued.
“By changing into Kentro Capital Ltd., we’re refocusing our central objective of managing our capital construction and figuring out and funding acquisitions – whereas guaranteeing that our distinct enterprise segments are offered the house and separation to fulfil their ambitions.”
He famous that nothing will change from an possession perspective and Kentro Capital Ltd., which efficiently refinanced in final summer time with a brand new debt facility of £70 million ($95 million), “will proceed to supply institutional help to its wholly owned companies.”
Supply: Kentro Capital Ltd.
Subjects
Underwriting
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