Specialty managing general agent (MGA) Nexus Group has announced that it plans to become the largest specialty MGA in Asia, as part of its new vision for the region.
“We have an ambitious goal of becoming the largest speciality MGA in Asia and achieving US$50 million in gross written premiums by the end of 2021,” said Anthony Egerton Chief Executive Officer (CEO) of Nexus Asia.
Nexus considers Asia to have been its key growth driver thus far, and it expects that role to continue going forward.
Egerton explained that he was optimistic about the company’s developments in the region.
“I am confident of saying that we are at the halfway mark of meeting these targets and am excited by the prospects here in Asia”, he said.
Nexus hopes to demonstrate its commitment to the region at this year’s Singapore International Reinsurance Conference (SIRC), which is set to address market challenges such as climate change, industry disruption and the impact of digitalisation.
“The theme gives a prescient glimpse into the future of insurance in Asia,” Egerton remarked. “The concept of MGAs is definitely not new – especially internationally and as the markets in Asia evolve to become more developed – we will be ready to ride the winds of change as it happens.”
Founded in 2008 and based in London, Nexus focuses on niche insurance classes of business.
It is currently represented in nine countries, including the UK, Ireland, France, Germany, Italy, The Netherlands, USA, China (Hong Kong SAR) and Malaysia (Labuan FT).