Nexus forms partnership to boost surety and trade credit ops

Managing general agent Nexus Group has teamed up with Crum & Foster and Hamilton Insurance DAC to expand its presence in the UK surety and trade credit market.

US insurer C&F has engaged with Nexus to establish a platform in London. The underwriters retained by Nexus will trade under the name Crum & Forster International.

As part of its relationship with C&F, Hamilton, a Dublin-based insurer and reinsurer, will provide the fronting capacity for the business in both the UK and EU, with a coverholder agreement for credit and political risk already executed.

David Wright joins the partnership as head of international credit and political risk. Steve Powney joins as the head of international surety business.

Colin Thompson, CEO of Nexus Group, said: “We are delighted to enter into this partnership with C&F, which has become an important capacity supporter to Nexus over recent years, and this deal further cements an increasingly important strategic relationship for the Nexus Group.

“This is a positive growth story amid a difficult economic backdrop. We are pleased to welcome David and Steve to Nexus and look forward to working closely with C&F to grow this proposition.”

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