Specialty Managing General Agent (MGA) Nexus Group has announced the appointments of Tony Egerton and Gerard Pennefather as Chief Executive Officer (CEO) and Non-Executive Chairman of its Nexus Asia subsidiary, respectively.
Egerton previously worked as Principal Officer at Nexus Structured Solutions Limited and has over 35 years’ experience in re/insurance and structured finance.
He has spent the previous 20 years in Asia, including as President of Asia Pacific for Lloyd’s of London between 2003 and 2008, before joining Nexus in August 2018 through the acquisition of Huntington Underwriters.
Pennefather, meanwhile, has 12 years’ experience in corporate finance and treasury in New Zealand with New Zealand Equities and Ord Minett (now part of JP Morgan Chase).
In 2001, he founded WP Capital and the Huntington Group, which owns, operates and invests in companies focused on the insurance and human capital industries.
“I’m delighted to announce these internal appointments, Tony being promoted to CEO of Nexus Asia and Gerard to Non-Executive Chairman – it would be difficult to find higher calibre individuals to strengthen the leadership team,” said Colin Thompson, Founder and Group CEO of Nexus.
“As we strive to continue building our size, scale and relevance in the Asian market through organic growth, as well as manage a busy pipeline of M&A opportunities and a number of other strategic initiatives, this appointment is recognition of the fantastic contribution Tony has made to the group in the short period of time since our acquisition of Nexus Structured Solutions (formerly Huntington Underwriting) in August 2018, where he is Principal Officer and will continue to run the business alongside his new duties.”
Thompson said that Nexus aims to become the largest specialty MGA in the Asia region over the next two years, generating $50+ million GWP and $3.5 million EBITDA.
“I know Gerard will be invaluable as Non-Executive Chairman of Nexus Asia, a position which he takes on in addition to his role as Chairman of Nexus Structured Solutions,” he continued.
“Like Tony, Gerard is widely known and respected in Asia and will assist in generating future M&A and other growth opportunities for Nexus.”