Nexus takes on Novae's regional financial lines business

Nexus Underwriting Management has acquired the £15m GWP regional financial lines portfolio of Novae Syndicates and confirmed it intends to set up a new Managing General Agency (MGA) in the new year to underwrite the account.

The new MGA, Nexus Professional Risks, will be entirely underwritten by Novae's Syndicate 2007 and led by former Novae employees Jonathan Morgan, Lindsay Noble and Joanne Edgley. Six other Novae underwriters will also transfer to the new business.

Nexus added that the Novae London Market professional indemnity account led by Martin King will be unaffected by the sale.

Colin Thompson, group chief executive officer at Nexus Group, commented: "This portfolio represents an excellent fit for Nexus

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.

You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Age? View our subscription options

Register

Sign up and gain access to five complimentary news articles every month.

Already have an account? Sign in here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: