Specialty MGA Nexus Underwriting Asia has announced that Beacon Underwriters is to be rebranded Nexus Marine with immediate effect. The move follows its acquisition of Beacon Underwriters Limited in July 2016. Nexus will now operate two platforms from a single office in Hong Kong, underwriting the following classes of business:
Nexus Marine – Cargo, Hull and Port and Terminals insurance.
Nexus Underwriting Asia – Specialty Lines, including D&O/FI Liability, Single Situation Credit, Accident & Health, Pension Trustee Liability, Property Industrial All Risks and Commercial Professional Indemnity insurance.
Nexus Marine is headed by Managing Director Ravi Shroff, the same role he held for Beacon Underwriters. Co-founder of the Nexus Group and Head of Specialty, Nexus Underwriting Asia, Kevin Gotts, runs Nexus Underwriting Asia.
Nexus Group is a specialty MGA in the London Market operating across a number of sectors. Nexus Underwriting Asia (NUA) was launched in November 2015 in Hong Kong as a branch of London-based re/insurance MGA Nexus Underwriting Ltd.
Nexus Marine’s main product areas are:
Cargo: Bulk commodities, Project cargo & Machinery, Crude oil & Products on GOT basis, Stockthroughput and Stand-alone storage on excess basis. Limit up to $20m per bottom.
Hull: Commercial vessels, tugs, barges and supply boats trading in coastal and inland waters in Asia. Limit up to $3m.
Ports & Terminals / Marine Liabilities Insurance: Limit up to $10m.
Ravi Shroff established marine MGA Beacon in 2009 as a Lloyd’s Coverholder to write Marine Cargo business for Asian and Middle Eastern markets. He has been based in Hong Kong since 1987, working with underwriting agencies as well as multi-national insurance groups. Kevin Gotts is a co-founding partner of The Nexus Group. He will be managing all Specialty Lines on a delegated coverholder basis and developing other classes of business.
Founded in 2008, Nexus Group is a specialty MGA that describes itself, with 23 underwriting partners, as a ‘virtual insurance company’. It has offices in London, France, Italy, Hong Kong and Ireland and employs more than 110 people.