Nexus Underwriting Management Limited (Nexus) Announces the Purchase of the Trade Credit Indemnity Division (CIFS) from Novae Syndicates Limited (Novae)

Novae Syndicates Limited (Novae) is pleased to announce it has exchanged contracts for the sale of its Credit Indemnity and Financial Services (CIFS) business to Nexus Underwriting Management Limited (Nexus).

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(PRWEB UK) 16 October 2012

Nexus will form a new Managing General Agency which will continue to trade under the CIFS name, with underwriting capacity provided by Novae Syndicate 2007 and other Lloyd's Syndicates. CIFS will continue to be led by Bob Lilley, Sue Morley and Neil Payton.

Nexus Group CEO, Colin Thompson, commented "CIFS has been established for well over a decade and is a highly regarded franchise that fits our Group model of underwriting profitable specialty classes."

Nexus is a private equity backed MGA underwriting Specialty classes of business. On a pro forma basis, the Group manages in excess of US$100m of Gross Written Premium through its operating subsidiaries and has quickly established itself as a leading Specialty MGA.

To find out more about Nexus Underwriting Management Limited, please visit http://www.nexusunderwriting.com

For more information

Colin Thompson
Chief Executive Officer
Tel: +44 (0)20 3102 4273
Mobile: +44 (0) 7595106939
cthompson (at) nexusunderwriting (dot) com

Nexus Underwriting Management Ltd, Third Floor, 70 St Mary Axe, London, EC3A 8BE
http://www.nexusunderwriting.com
Nexus Underwriting Management Limited, Company Number 7055303 is registered in England. It is the holding Company for Nexus Underwriting Limited (trading as Nexus Financial Products), Nexus Professional Risks Ltd and Torus Executive Risks Ltd.


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