Xenia Broking Group, the independent trade credit broking arm of Nexus Group, announced it is uniting under one trading name and brand: Xenia.
Nexus acquired Credit Risk Solutions in October 2017 and Credit and Business Finance in April 2019. The unified teams will deliver greater scope and focus to their clients, while Xenia’s streamlined operations will further enhance customer experience through scale, reach and efficiency, said Nexus Group in a statement.
Xenia is a leading and among the largest specialist trade credit and surety brokers in the UK, with circa 20% market share of trade credit insurance distribution. The business will develop its specialist focus by maintaining its consistently strong organic growth (approximately 15% per annum) and by acquisition, with targeted combined growth of over 30% per annum. Xenia’s strategic objective is to become the world’s leading trade credit and surety broker.
“Xenia’s formation is an exciting evolution for the credit insurance and surety markets,” said Tim Coles, CEO of Xenia.
“The businesses that together constitute the new Xenia possess exceptional talent and deep expertise that, together with our unmitigated focus on client service, enable us to raise the bar on delivery of exceptional solutions for our clients, no matter how complex the challenge,” he added.
“We believe that our distinctive new brand and compelling proposition will stand out in the marketplace. They capture who we are as a business – focused, modern and dynamic with an entrepreneurial culture,” Coles continued.
Nexus, the London-based managing general agency, launched Xenia Broking Group Ltd. in March 2019 when Tim Coles became CEO of Xenia alongside his role as Nexus Group COO.
Both CRS and CBF are subsidiaries of Xenia Broking Group Ltd, a Nexus Group company, and this legal structure will remain the same.
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