Independent specialty managing general agent Nexus Underwriting has formed a new financial lines division, called Nexus Frontier.
According to Nexus, Frontier is a new financial lines MGA structure in which fronted insurance arrangements will be housed. Nexus will use Accredited Insurance (Europe) Limited as its fronting partner, with support from a panel of blue-chip reinsurers. Not only does this offer stable, well-rated insurance capacity, but the partnership with Accredited allows Nexus to access “broad territorial licenses” to meet the needs of brokers and insureds, a release said.
Frontier’s product offering will first focus on commercial D&O, commercial PI, commercial crime, financial institutions D&O, financial institutions PI, financial institutions crime, and pension trustee liability. Nexus also stated that Frontier will be capable of adapting and rapidly expanding into new and existing markets in the future.
Frontier will be located at Box number 358 in the Lloyd’s underwriting room, which will be manned by the Nexus Frontier team – managing director James Rasmussen, company co-founder and senior underwriter Alex Mobbs, and underwriting assistant Rebecca Patt.
“We are absolutely thrilled to be launching Frontier and establishing the business at Lloyd’s. We are particularly excited to bring something slightly different to the market and there is no better place to transact business than at Lloyd’s,” said James Rasmussen.
Rasmussen added that Nexus having a presence at Lloyd’s would provide enhanced visibility for the MGA’s broking partners, while complementing the broad distribution channels offered by the financial lines team.