Nexus Specialty Inc., part of MGA Nexus Group, has formed a new program agreement with Crum & Forster that allows Nexus to underwrite their trade credit products on a fully admitted basis in the U.S.
Nexus Specialty Inc. has been a Lloyd’s of London Coverholder for the U.S. and Canada since May 2014, underwriting multi-buyer trade credit business predominantly on a surplus lines basis.
According to Antje Seiffert-Murphy, head of Trade Credit USA and Canada, Nexus Specialty Inc., Nexus’ move will complement the trade credit division’s efforts of the U.S. office, build a diversified book and make more inroads into writing small and mid-market business.
The partnership will allow Nexus to combine noncancellable limits with an underwriting system more prevalent with cancellable limit underwriters, she added.
This announcement follows the launch of Nexus Specialty Inc. as a rebrand of Equinox Global Inc. in November 2019 which further enabled Nexus Group to extend its reach and product lines in the U.S.
Founded in 2008 and based in London, UK, the Nexus Group is an independent, specialty managing general agent (MGA) with a focus on niche insurance classes of business writing almost $500 million of premium in 2019.
Nexus employs over 250 staff and is represented in nine countries: UK, Ireland, France, Germany, Italy, The Netherlands, USA, China (Hong Kong SAR) and Malaysia (Labuan FT).
Crum & Forster is a national property and casualty insurer providing specialty insurance products through their admitted and surplus lines insurance companies. Crum & Forster is part of Fairfax Financial Holdings Limited, a holding company based in Toronto, Canada which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and the associated investment management.
Crum & Forster is a registered trademark of United States Fire Insurance Company.
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