Specialty Managing General Agent (MGA) Nexus Group has named Mike Sibthorpe as Chief Executive Officer (CEO) of Insurance and Reinsurance at Nexus Underwriting Management, and announced a reshuffle of its management team.
The appointment is effective from April 2018 and also makes the former Chief Underwriting Officer (CUO) for AmTrust at Lloyd’s a member of the Nexus Group board.
Colin Thompson, Founder and Executive Chairman of Nexus, said; “Bringing in someone of Mike’s calibre is a huge credit to the Company and the direction that we are headed.
“Mike has enjoyed an enormously successful and extensive career throughout the industry, establishing Lloyd’s syndicates, growing businesses and delivering improved underwriting performances.”
Sibthorpe will be responsible for the underwriting strategy and underwriting performance of the firm’s re/insurance operations, Thompson said; “This role is especially important to our model as an MGA” following three transformational years of rapid growth, during which the Group have completed seven acquisitions.”
Prior to AmTrust, Mike was CEO for W R Berkley Syndicate 1967, having led the establishment of the Syndicate in 2009.
He also served as CEO of Brit Global Markets and Active Underwriter of Brit Syndicate 2987.
Mike Sibthorpe said that with his Lloyd’s market and underwriting experience, he’d be “looking to add to the extensive platforms Nexus has established and deliver first class insurance solutions for clients and underwriting partners.”
With Nexus exploring a potential shareholder liquidity event in 2018, the Group said Sibthorne’s appointment is part of a wider management reshuffle in the process to ensuring the Group has the appropriate management structure and governance in place.
Additional changes will include the appointment of a new Non-Executive Chairman as Colin Thompson relinquishes the role of Executive Chairman to reassume the position of Group CEO.
Meanwhile, Nexus announced that Tim Coles will become Group Chief Operating Officer (COO) while Stuart Rouse will continue as Group Chief Financial Officer (CFO).
This management reshuffle will also be effective from April 2018.
