Independent specialty managing general agent Nexus Underwriting has shaped a new financial lines division, called Nexus Frontier.
According to Nexus, Frontier is a new financial line MGA structure in which faced insurance agreements will be housed. Nexus will use Accredited Insurance (Europe) Limited as its fronting partner, with support from a committee 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 dealers and insureds, a release said.
Frontier’s product offering will first focus on commercial D&O, retail PI, commercial crime, financial institutions D&O, financial institutions PI, economic institutions crime, and pension trustee liability. Nexus also stated that Frontier will be capable of adapting and rapidly expanding into new and occurring markets in the future.
Frontier will be located at Box number 358 in Lloyd’s underwriting room, which will be manned by the Nexus Frontier team – managing manager James Rasmussen, company co-founder, and senior underwriter Alex Mobbs, and underwriting assistant Rebecca Patt.
“We are thrilled to be launching Frontier and ascertaining the business at Lloyd’s. We are particularly delighted 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.