Xenia Broking Group, the independent broking arm of the Nexus Group, has formally united under a single trading name and brand – Xenia.
Nexus acquired Credit Risk Solutions (CRS) in October 2017 and Credit and Business Finance (CBF) in April 2019.
Xenia is among the largest specialist trade credit and surety brokers in the UK, with around 20% market share of trade credit insurance distribution.
The business plans to develop its specialist focus through both organic growth and acquisitions, with targeted combined growth of over 30% per annum.
“Xenia’s formation is an exciting evolution for the credit insurance and surety markets,” said Tim Coles, CEO of Xenia.
“The businesses that together constitute the new Xenia possess exceptional talent and deep expertise that, together with our unmitigated focus on client service, enable us to raise the bar on delivery of exceptional solutions for our clients, no matter how complex the challenge,” Coles continued.
“We believe that our distinctive new brand and compelling proposition will stand out in the marketplace. They capture who we are as a business – focused, modern and dynamic with an entrepreneurial culture.”
Nexus launched Xenia Broking Group Limited in March 2019 when Coles became CEO of Xenia alongside his role as Nexus Group COO.
Both CRS and CBF are subsidiaries of Xenia Broking Group Ltd, a Nexus Group company, and this legal structure will remain the same.
