Summer 2016

Beacon was established in 2009 as aLloyd’s Coverholder to write Marine Cargo,Hull and Machinery and Ports andTerminals business for Asian and MiddleEastern markets. Beacon’s ManagingDirector, Dr Ravi Shroff, has over 30 years’experience as an insurance underwriterand has been working in Hong Kong as anunderwriter since 1987.The acquisition of Beacon augmentsNexus’ footprint in Asia, subsequent to theopening of Nexus Underwriting Asia (HK)in 2015, and all the Marine lines ofbusiness underwritten by Beacon are new

to us and further diversify the group in thespecialty niche underwriting arena.As part of the transaction, Ravindra Shroffwill remain as Managing Director ofBeacon and report into Jeremy Austen,Principle Officer of Nexus UnderwritingAsia (HK). For the time being, Beacon willalso continue to trade out of their currentoffices located at the Jubilee Centre, inWanchai, and Ravindra will be supportedby long-serving employees Eric Cheng asMarine Underwriter and Louisa To asAccounts Assistant.Jeremy Austen, Principle Officer of Nexus

Nexus Acquires Hong KongBased Marine MGA Beacon

At the beginning of July we acquired domiciledMarine Managing General Agent, BeaconUnderwriters Limited, based in Hong Kong.

Dr. Ravi Shroff

Underwriting Asia (HK), commented:"We are very pleased to have Ravi and histeam join our growing Nexus UnderwritingAsia (HK) platform.  Ravi is a well-respected Marine Underwriter and localinsurance practitioner here in Hong Kong.We look forward to adding Marine Hull,Cargo, Yachts and Liabilities to ourgrowing specialty products in Asia, whilst welcoming Ravi and his colleagueson-board."The Nexus Group now has over 100employees and is now one of the largestand most profitable independent specialtyMGAs in the London market, having madea profit every quarter since it started. It isestimated that within 36 months Nexuswill be underwriting in excess of USD $500million of profitable specialty business.

Through its branch based in Hong Kong,Nexus Underwriting Asia (HK), thisarrangement will enable Nexus to offer upto US$15 million Financial Lines capacityto commercial businesses and financialinstitutions across a broad range ofproducts, including D&O, ProfessionalIndemnity and Crime.André Ford, Group Chief UnderwritingOfficer at Nexus, said: “This deal is asignificant step forward in our excitinggrowth plans for the Asia region and agreat opportunity for Nexus to deliverflexibility and value in the local Financial

Nexus Secures LongTerm Financial LinesUnderwriting Capacityin Asia with XL Catlin

Lines market through partnering with XLCatlin, a strong global insurer committedto underwriting and claims excellence.” Nexus Underwriting Asia (HK) waslaunched in November 2015 in Hong Kongand is tasked to build a highly profitableportfolio for underwriting partnersproviding them with cost effective entryinto Asian Pacific markets, as well as anopportunity to underwrite and generatenew revenue opportunities from Asia notcurrently offered in the London, Europeanor US markets.

Colin Thompson - Executive ChairmanNexus Underwriting Management Limited

The summer is flying by with all thepolitical machinations, sporting successesand failures plus, of course, the reliableBritish summer weather – depending onwhich way you look at it!In these exciting times, we haven’t beenstanding still at Nexus during the past fewmonths and this newsletter is filled withexciting acquisitions, a raft of talent joiningthe group and a brilliant Nexus challenge.In tonight’s packed programme, as the TwoRonnies used to say...Recently Marine MGA Beacon joined thefold and this marked a significantmilestone for us, our first overseasacquisition - and the third one within thelast 12 months. Beacon has a proven trackrecord of profitable underwriting and weare excited at the prospect of continuing tobuild on this success.No sooner than this was announced wewere able to confirm the opening of a newbranch in Cork, Ireland, where StephenComerford will be based.Welcome to all the people who have joinedus since the beginning of the year. Youarrive at extremely exciting times for Nexusas we continue to look to grow organicallyand via strategic specialty acquisitions.Good Luck to all those taking part in thevery testing Nexus Challenge in Septemberwhich is looking to raise money for thechildren’s charity Starlight.Please keep up to date with all Nexus newson the website:www.nexusunderwriting.comHope you enjoy reading this newsletter.Best wishes,

Welcome

Originally acquiring EBA InsuranceServices in August 2015 meant that Nexuscould offer an extended product range thatincluded Surety, latent defects insurance,construction risks and casualty businessthroughout Europe.Stephen Comerford will be based in Corkand will be instrumental in setting up theNexus EBA branch for Ireland whereuponhe will become Branch Manager. Having started his career in the propertyand casualty divisions of Aviva Ireland,Stephen moved to Campion InsuranceBrokers where he went on to becomebranch manager in Cork. Hisspecialisation in Surety developedfollowing the 2008 crisis when he wasinstrumental in securing solutions forbuilders, developers and licensed servicecontractors in a market where many

Nexus EBA OpensShop in Ireland

traditional surety players had ceasedunderwriting the class.The Nexus Group has forecast GrossWritten Premium of more than US$175mfor 2016 and trades out of offices inLondon, France, Italy, Hong Kong and,now, Ireland.

The Group were very pleased to announce that it had signeda three year underwriting capacity deal with XL Catlin in Asiathrough XL Insurance Company SE at the end of May.

Nexus EBA are establishing a branch in Ireland that will beheaded up by Stephen Comerford, Senior BusinessDevelopment Manager and Deputy Underwriter for Surety.

Adam Kembrooke joined as Group ChiefLegal Officer and Group Chief Risk Officerin July. He is a dual-qualified lawyer andjoins the Nexus team from PartnerRe toestablish and build a group-wide claimsdepartment and in-house corporate legalcapability. Beginning his insurance careerat Chubb in 2002, Adam is licensed inEngland and Wales and the USA.Tim Coles, Group Chief Executive Officer,Nexus Underwriting Management Limited,welcomed Adam:

New Joiners

“Adam’s high level of expertise,qualification and experience acrossclaims, legal and risk will be a significantadvantage to Nexus us as we furtherdevelop our operational platform tosustain and nurture the growth we areenjoying. In particular, Adam’s experiencein establishing and building start-upoperations will be highly relevant, hehaving previously co-founded a new directdivision of one of the world’s leadingreinsurance companies, built outEuropean specialty and casualty claimsoperations for a Bermudan insurer as wellas driving the international expansion of aCity of London based law firm.”In June Nexus CIFS announced that EdCornish joined them as Senior

Underwriter on the Single Situation TradeCredit team. “We are very excited about Ed’s arrival andhis addition to the Single Situation teamwill enable us to diversify our book furtherinto areas we previously haven’t explored. Iam confident that Ed will prove to be avaluable addition and great fit with NexusCIFS and the Nexus Group as a whole,”said Richard Marriage, Managing Director,Nexus CIFS. Beginning his career at CatlinUnderwriting Agency in 2003, Ed becameUnderwriting Technical Assistant forPolitical and Structured Trade Credit atChubb Insurance Company of Europe until2010, when he joined FINPRO, Marsh Ltd,as a Political Risk and Structured Creditbroker for two years. Moving back onto theunderwriting side, Ed became a PoliticalRisk and Structured Credit Underwriter atANV Managing Agency before joiningBeazley in 2014.This followed the announcement in Aprilthat Nicola Slater had joined asCommercial Underwriter.

Based in the Midlands, Nicola will beresponsible for the Midlands and SouthWest Whole Turnover Trade Credit renewalbook, broker relationships as well assupporting business development in theregion. After ten years in accounting,Nicola started her insurance career in1996 as an Accounts Assistant with CIA /Aon Trade Credit based in Solihull, WestMidlands; she became Account Executivetwo years later, and then in 2007 she waspromoted to Client Director for Aon CreditInternational based in Birmingham. In January, a new Director arrived atMillstream Underwriting. Tim Brangwynjoined the executive team at Millstreamand Tim Coles, Group Chief ExecutiveOfficer, Nexus Underwriting ManagementLimited, said at the time:

Adam Kembrooke

Ed Cornish

Nicola Slater

Tim Brangwyn

“Tim brings a range of skills that will addto the existing talent in the Group and helpus with our development plans. We’repleased to have him on board for the nextphase of our growth.”Tim was previously at RSA Group where heheld the position of Sales Director for theUK Southern regional markets. Prior toRSA, he was a director at Sutton Winson, aprivately owned insurance broker, for 9years where he was responsible for theirCommercial Division and the company’smarketing activities.Lastly, in January, Richard Wynn joined thegroup as Head of Business Development. Tim Coles, Group Chief, NexusUnderwriting Management Limited,Executive Officer commented on thisappointment as follows:“Strong, broad and sustainable distributionis a core focus for us. Richard’sresponsibility at Nexus will be to drive thisas he will be responsible for identifyingand pursuing growth opportunities andnew business for the divisions andcompanies across the group.”“We have number of strategic distributionpartners. Richard will develop theserelationships as well as creating newchannels and opportunities. Whilst mainlyfocused on the London market, he willsupport regional/local distribution andalso play a key role in helping us to developbest practice and processes for businessdevelopment,” he added. Richard began his insurance career as abroker with C.E. Heath in 1991 where heplaced Professional Indemnity andFinancial Institutions risks in the Londonmarket. He joined brokers Howden in1997, initially spending 11 years asDirector of the UK Retail Division, beforestints in Dubai then Singapore as anexecutive director developing and placingwholesale reinsurance across all lines ofbusiness. The Group’s current product range,supported by 23 underwriting partners,comprises Financial Lines, Trade Credit,Accident & Health, Surety, Travel,Property, Bond, Latent Defect and Marine.

Nexus Group150 Leadenhall Street, London EC3V 4QT

T: +44 (0) 20 3011 5700W: www.nexusunderwriting.comE: info@nexusunderwriting.com

Disclaimer: The information contained in this newsletter is for generalinformation purposes only. Whilst we endeavour to keep the information upto date and correct, we make no representations or warranties of any kind,express or implied, about the completeness or accuracy of the information,products or services contained in the newsletter. Any reliance you place onsuch information is therefore strictly at your own risk. In no event will we beliable for any loss or damage including without limitation, indirect orconsequential loss or damage, or any loss or damage whatsoever arisingout of, or in connection with, the contents of this newsletter.

For the third year in a row, Nexusemployees and broker guests recentlycompeted in the annual yachting regatta atCowes in the Isle of Wight. For a week thecrew sailed a 37’ Oceanis class racingyacht called 'Vis a Vis'.Skippered by Nick Wright, a rotating crewof seven learnt the aspects of sailing andenjoyed a team building day withtwo members of Nexus staff and fivebrokers alternating during the week.The week provided a terrific opportunityfor everyone to experience out of comfortzones and an environment where theywere challenged, worked together - andsavoured the traditional camaraderie atthe end of the day!

Cowesoncemore

A group of Nexus employees will climb thethree highest mountains in England,Scotland and Wales next month in aid ofStarlight Children's Foundation.The itinerary firstly takes in Ben Nevis, thehighest mountain in the British Isles

Nexus Challenge standing at 4,414 feet, then Scafell Pike inCumbria, and finally Snowdon in Wales.Starlight Children's Foundation brightensthe lives of seriously and terminally illchildren - for more information pleasevisit: http://www.starlight.org.uk/

Nexus recently held their annual brokerreception Leadenhall Market where 250Nexus employees, brokers andinsurance journalists enjoyed an

Broker Reception

Over 500 tickets have been sold for thecharity dinner to be held on Thursday3rd November by Nexus CIFS at OldBillingsgate in aid of the Royal MarsdenCancer Charity, the group’s chosencharity for this year.The ambitious target for the dinner is to raise £50,000 on the night, not leastfrom an auction that will be conductedby a person considered to be the doyen of auctioneers, Hugh Edmeadsfrom Christies.Auction lots will include items suchtickets as to the Aegon TennisChampionship at Queen’s Club in June2017, 24 hours on board a 37 foot yachtwith a skipper and a day's golf at thefamous Royal St Georges Golf Club in Sandwich.

Nexus CIFS CharityDinner Update

Richard Marriage, Chief Executive ofNexus CIFS, will be the Master ofCeremonies for the evening and willintroduce the guest speaker, the muchsought after former MP, raconteur and TV presenter Gyles Brandreth.It promises to be a memorable eveningfor the trade credit insurance communitywhere they can show their support for avery worthwhile charity. Following a Fizzreception and the three course dinner,there is dancing to a live band and DJ until 1.30 am.Tickets cost £1,950 for a table of ten andcan be booked online at the Nexus CIFSwebsite that gives all relevant details andthe evening’s programme. Look out for the"Follow the white rabbit banner" when youvisit the website.

informal evening of fun, drinks andcanapés entertained by the ReubensRichards Band and sustained by adelicious BBQ.