Xenia Broking Group, the independent broking arm of insurance intermediary holding company Nexus Group, has completed its acquisition of Howden UK Group Limited’s trade credit business.
The deal sees Howden UK trade credit head Stuart Grice come onboard Xenia, which will integrate the acquired operations with its regulated entity Credit Risk Solutions. As previously reported by Insurance Business, Grice will serve as Xenia’s client service director for North West and Scotland.
Commenting on the completion of the transaction, financial details of which were not disclosed, Xenia chief executive Tim Coles stated: “The acquisition of Howden’s trade credit business has added a highly complementary client portfolio and client service team to Xenia.
“Together, we look forward to providing exceptional service and results for our clients and particularly so through the current economic climate for which Xenia’s collective experience and capability sets us apart. We are delighted to welcome Stuart and his team into the group and very much look forward to working together.”
Xenia came to life a year ago when Nexus combined its broking activities under one roof.
