Nexus Underwriting has signed a three-year underwriting capacity deal with XL Catlin in Asia through XL Insurance Company.
The deal will provide Nexus, an independent specialty managing general agent (MGA), with cost effective entry into Asian Pacific markets, according to the firm.
It will also give Nexus an opportunity to underwrite and generate new revenue opportunities from Asia not currently offered in the London, European or US markets.
Nexus will be able to offer up to $15 million financial lines capacity to commercial businesses and financial institutions across a broad range of products, including directors and officers (D&O), professional indemnity and crime, thanks to the arrangement.
André Ford, group chief underwriting officer for Nexus, said: “This deal is a significant step forward in our exciting growth plans for the Asia region and a great opportunity for Nexus to deliver flexibility and value in the local financial lines market through partnering with XL Catlin, a strong global insurer committed to underwriting and claims excellence.”
Jeremy Austen, principal officer, Nexus Underwriting Asia, added: “Nexus Underwriting Asia will offer Financial Lines insurance for commercial businesses and financial institutions. XL Catlin is a strong underwriting partner for the region, being very much aligned with the Nexus ambition, product range and service values.”
Nexus Underwriting, XL Catlin, XL Insurance Company, Insurance, MGA, London, UK, Bermuda, Asia-Pacific