In August 2014 the Group invested in Nexus Underwriting Management Limited (“Nexus”), the independent specialty Managing General Agency (MGA), founded in 2008. It now has five operating subsidiaries. Nexus Underwriting Limited provides Directors & Officers, Professional Indemnity, Financial Institutions and Accident & Health and Nexus CIFS Limited specialises in Trade Credit and Political Risks Insurance. Since the Group’s investment in Nexus, a number of acquisitions have been undertaken, including EBA Insurance Services Limited, Millstream Underwriting Limited, Beacon Underwriters Limited, Huntingdon Underwriting, Altitude Risk Partners and Hiscox Flying Global. In February 2022 Nexus rebranded as Kentro Capital Limited.
18.7%
Equity % at December 2023 prior to disposal
3.41x
Realised multiple on invested capital on disposal
£51.5m
Realised sale proceeds