Nexus buys marine cargo MGA from Aquila

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The business has now moved to Nexus’ headquarters in Leadenhall Street.

Nexus Group has bought Vectura Underwriting, a Lloyd’s coverholder and specialist marine cargo MGA, from Aquila Underwriting for an undisclosed amount.

Nexus said a unique specialisation and selling point of Vectura is its knowledge and experience of ATA Carnet - an international customs and temporary export-import document. 

In addition to offering cargo insurance for the goods on temporary export, Nexus stated that Vectura could also provide a bond that would meet a shipper’s obligations

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Broking profits fall at Saga

Underlying profit before tax in Saga’s insurance broking arm fell to £39.8m for the year ended 31 January 2024, compared with £71.5m in the previous period.

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