Nexus buys CIFS
Nexus Underwriting Management has bought Credit Indemnity and Financial Services (CIFS) from Novae Syndicates for an undisclosed sum.
Nexus confirmed that it will form a new Managing General Agency which will continue to trade under the CIFS name, with underwriting capacity provided by Novae Syndicate 2007 and other Lloyd's Syndicates.
CIFS will continue to be led by Bob Lilley, Sue Morley and Neil Payton.
CIFS works with brokers to design credit insurance programmes across a broad range of industrial and commercial sectors.
Its range includes supplying cover against non-payment of debts by insured customers for businesses of
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