Sep 28, 2015 - well known and respected London market professional Jeremy ... he became one of the 5 founding directors
Industry Veteran Jeremy Adams Joins Nexus Board London, Monday 28th September, 2015 Specialist independent MGA Nexus Underwriting Management Limited (NUML) announces today that well known and respected London market professional Jeremy Adams joins its board as an independent Non Executive Director with immediate effect. Since October 2001 Adams had been employed at Novae Group’s Lloyd’s managing agency where he became Chief Executive in 2002 and was appointed to the Group Board in 2004. He also managed the run-off of their syndicates 1007 and 1241, at that time the largest run-offs in Lloyd’s. Colin Thompson, Executive Chairman of NUML, commented: “This is a massive coup for Nexus. After 35 years in the industry, Jeremy will bring his vast knowledge and many long standing connections from the broking, insurance, reinsurance and Lloyd's worlds. Importantly, he will also provide us with invaluable independent insight and scrutiny going forward gained from his varied and successful career to date in the industry.” Adams began his career 1978 in the International division of Willis Faber & Dumas broking liability, professional indemnity, and products guarantee for clients in UK and overseas before moving to the new Political Risks unit, finally the Financial Institution division and was promoted to Executive Director in 1987. After ten years, he became one of the 5 founding directors of Special Risk Services, a broker specialising in Financial Institutions business. Following this Adams worked at Minet/Aon Group and Archer Managing Agents before joining Novae. This announcement follows a major expansion for the Nexus Group last month with the recruitment of a new Chief Executive Officer, Tim Coles. Notes for Editors - About Nexus The founders of the Nexus Group set out in October 2008 to create a Managing General Agent (MGA) with a dynamic growth path into Specialty Lines insurance, backing this up with excellent service and cutting edge products. A five year plan was put into place with one overriding success criteria, that the group would become one of the largest and most profitable independent specialty MGAs in the London market by 2013. This has been achieved with gross written premium due to surpass US$135 million in 2015 – and over 50% of the group’s gross written premium emanating from regional brokers.
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The group has made profit every quarter since it started. The model is based on making an underwriting profit for Underwriting Partners who have paid profit commission out for every underwriting year since Nexus was founded, and cumulative gross written premium of more than US$365 million has been produced for the London Market. The Nexus Group currently has 20 underwriting partners who support their product offerings up to the following limits of liability for these Specialty classes of business: Directors and Officers – £30m Limit of Liability Financial Institutions – £15m Limit of Liability Professional Indemnity – £15m Limit of Liability Trade Credit – £10m Limit of Liability for Whole Account and US$15m (£10m) Limit of Liability for Single Situation Accident & Health – £12.5m Limit of Liability Property & Casualty – Employers Liability - £10m Limit of Liability Property & Casualty – Public Liability - £5m Limit of Liability Property & Casualty – Office - £1.2m Limit of Liability Accident and Health Term Life Assurance - maximum per life limit up to £2m and event aggregate up to £25m Limit of Liability Following the recent acquisition of EBA, the Group can now offer an extended product range that includes Surety, Bond, Dommages à l’Ouvrage, Architects & Engineers Professional Indemnity Insurance, General Professional Indemnity Insurance, Fine Art and Specie Insurance, Miscellaneous Casualty Insurance, Construction Plant & Machine Risks Insurance, Life and Event Cancellation. Nexus Underwriting Management Limited, Company Number 7055303 is registered in England and Wales. It is the holding Company for Nexus Underwriting Limited and Nexus CIFS Limited. For more information please visit: www.nexusunderwriting.com
Photo: Jeremy Adams
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