Nexus Group, a specialty managing general agent (MGA), has introduced a new alternative risk transfer (ART) business line in the US, aiming to provide structured (re)insurance solutions.
The new line, called Nexus ART, will primarily focus on property insurance and also cover liability and multi-line insurance.
Go deeper with GlobalData
Nexus Specialty Casualty president Christof Bentele will lead Nexus ART.
The specialty MGA has appointed Tim Starr as head of analytics and pricing for the new business line.
Starr brings experience as an actuarial data scientist.
Additionally, international structured insurance expert Richard Zhang has been brought on board as the head of underwriting for ART.
Zhang most recently served as the head of ART for Asia Pacific and the Middle East at Willis Towers Watson.
Nexus Group US CEO and president Adam Kembrooke said: “Our business has quadrupled in size over the last three years and the majority of that growth has been as a result of several successful new product launches, a great example of which is our Specialty Casualty division led by Christof, a huge success over the last 18 months since launch.
“We see a real need in the market now for a service-focused offering in the structured solutions space and our talented team will work closely with our brokers to build unique alternative risk solutions for clients. We are confident the new ART business will be a profitable and fast-growing addition to our already expansive range of products.”
Nexus Specialty Casualty operates as a division of Nexus Specialty, which is a subsidiary of Nexus Underwriting US.
As of 2023, Nexus has become part of the insurance brokerage Brown & Brown Group.
Last month, Aquiline Capital Partners agreed to sell Quintes Holding to Brown & Brown.
Quintes, established in 2012 by Gijsbert van de Nieuwegiessen, offers insurance broking services in the Netherlands.
