Nexus Underwriting Management has rechristened itself as Kentro Capital Limited.
The London-based intermediary firm said that it and Xenia Broking will operate as ‘discinct, independent brands’ under the Kentro holding company. Colin Thompson will continue to lead Kentro as Chief Executive Officer. Tim Coles will remain Chief Executive Officer of Xenia and Colin Thompson will continue as Chief Executive Officer of Nexus.
Thompson said: “By becoming Kentro Capital Limited, we are refocusing our central purpose of managing our capital structure, and identifying and funding acquisitions – while ensuring that our distinct business segments are provided the space and separation to fulfil their ambitions.”
He added: “Nothing changes from an ownership perspective and Kentro Capital Limited, who successfully refinanced in the summer with a new debt facility of £70 million, will continue to provide institutional support to its wholly owned businesses.”
There seems to be a lot of activity around Nexus and Xenia in recent weeks, with the latter picking up Tysers about five weeks ago. That transaction was completed on 11th January and marks Xenia’s eighth acquisition to date and fifth in the last nine months, having acquired Peter Hill Credit & Financial Risks in December.
