The Nexus Group Launches New Underwriting Venture in Asia

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1 The Nexus Group Launches New Underwriting Venture in Asia London and Hong Kong, 2nd November, 2015 Specialty MGA, Nexus Underwriting Management Limited, announces the launch of Nexus Underwriting Asia (NUA) in Hong Kong (a branch of its regulated subsidiary Nexus Underwriting Ltd) the independent, international (re)insurance Managing General Agency based in London. NUA will be headed up by Jeremy Austen, Principal Officer, and supported by Kevin Gotts, Head of Specialty Lines, who will relocate to Hong Kong from Nexus London headquarters. The Nexus Underwriting Asia trading hub will replicate the existing successful portfolio currently underwritten by the Nexus Group in London and focus on underwriting Financial Lines, PI, FI, D&O, Single Situation Credit, Accident and Health, Fine Art and Specie plus a Property Non-Marine account. Jeremy Austen will also introduce and oversee other classes of business to be introduced during 2016, which include Non Marine Treaty, Casualty Treaty, Cyber, Extended Warranty, Trade Credit Whole Account and others within the Asia Pacific markets. NUA will look to establish a highly profitable portfolio for their Underwriting Partners, providing them with low cost entry into the Asian Pacific markets as well as an opportunity to underwrite and generate new revenue opportunities from Asia not currently offered in the London/European and US markets. Jeremy Austen has 14 years underwriting experience in the London Market and at Lloyd s, and 20 years experience in Asia as a broker and underwriter. He has wide knowledge of the local Asian markets, experience in establishing start-ups and hasan extensive Asian client network. Kevin Gotts is a co-founding partner of The Nexus Group in London. He will be managing all Specialty Lines on a delegated coverholder basis and working closely with Jeremy in producing and developing other classes of business. Kevin has 28 years London Market experience, 15 of those as Head of Directors and Officers at Nexus Underwriting Limited, and was previously employed at Axis Specialty London, Zurich Global Corporate UK, Chubb UK and AIG UK; for the other 13 years Kevin was a broker of Financial Lines business. Colin Thompson, Executive Chairman, Nexus Underwriting Management Limited, commented:

2 I am very pleased that at such an early stage we have already been able to assemble an impressive line of business to underwrite in addition to all the lines we cover in London. We will be one of the first independent MGAs in the Asia Pacific region and this is a significant milestone in our growth plans. Jeremy has built up an extensive client and distribution network during his 20 years in Asia, is well known by lead supporting Syndicates and Senior Management all of which will allow NUA to gain instant recognition during its start-up phase. Kevin Gotts been with Nexus right from when we opened our doors for business, so this is an excellent combination of talent and experience to get us established and make a significant impact in the region, Thompson added. Tim Coles, Chief Executive Officer, Nexus Management Underwriting Limited, commented: Having recently joined Nexus, who continue to pursue a dynamic growth path into Specialty Lines insurance making them one of the largest and most profitable independent specialty MGAs in the London market, the new venture in Asia is extremely exciting and we will shortly become the first MGA to be granted an IARB License by Lloyd s - Hong Kong. I very much look forward to helping Jeremy and Kevin develop our business in Asia on every level, strengthening their underwriting reach in the region and attracting high calibre people to come and join them in Hong Kong, Coles added. Jeremy Austen, Principal Officer, NUA, said: I am delighted to have been asked to help form the new venture for Nexus in a region that I know has many opportunities for (re)insurance business as it grows financially and, together with Kevin, we intend to replicate the successful model the group has adopted in London since Kevin Gotts, Head of Specialty Lines, NUA, commented on the underwriting philosophy they will adopt from the outset: We will be looking to focus on risk quality, adopt risk selection using technical risk evaluation skills and market knowledge, and manage and mitigate catastrophe exposures to secure terms to reflect overall exposure. By establishing positive working relationships with intermediaries and direct clients and cedants, we will develop a good spread of business within the portfolio and a strong Asian marketing platform for NUA and its supporting partners, Gotts added. NUA will secure a Hong Kong Insurance Agent license (IARB) allowing them to act for Lloyd s and other Hong Kong licensed insurance/reinsurance companies. The Nexus Group s growth has now made it one of the largest independent specialty Managing General Agents in the London Market with estimated gross written premium of US$135 million in 2015 and, cumulatively, since 2008 the Group has underwritten in excess of US$365m gross written premium.

3 Notes for Editors About Nexus Underwriting Asia Classes of Business NUA will look to replicate the existing successful Nexus portfolio currently written in London as well as focusing on underwriting experience of Jeremy Austen and Kevin Gotts to broaden our scope. Therefore we will be focusing on the following classes to be introduced in 2016 all focused on Asia and Asia Pacific markets: Property Industrial All Risks Trade Credit - Whole Account* Single Situation Credit Directors and Officers and Financial Institutions Liability Accident and Health Commercial Professional Indemnity Financial Institutions Blended D&O/FI/Crime Financial Institutions Professional Indemnity Commercial Crime Pension Trustee Liability Employment Practices Liability Fine Art and Specie Non-Marine Treaty Reinsurance* Casualty Treaty Reinsurance* Extended Warranty* Cyber* *NUA will introduce these classes in 2016 all focused on Asia and Asia Pacific markets. Territorial Distribution NUA will offer a broad Asian distribution network with the following projected Net Written Estimated Premium Income per Country 2015 / 2016:

4 Jeremy Austen Principal Officer, Nexus Underwriting Asia, biography Jeremy Austen has working in the (re)insurance industry for over 30 years on both the broking and underwriting sides and has built up an extensive Asian network having spent the majority of his career in the region. He began his career in the London market as a company underwriter then with Lloyd s syndicate F.R. White (now Liberty Syndicate Management Ltd) before moving to Asia in 1995 to establish an office for a Lloyd s broker. Four years later, Jeremy established Arthur J Gallagher Asia and over the next 8 years he built up a successful and profitable business employing over 35 staff with offices in Singapore, Malaysia Hong Kong, China and representation in Indonesia. In 2007 Jeremy moved back to underwriting to establish Talbot Syndicate in Singapore. Jeremy Austen Principal Officer, Nexus Underwriting Asia About The Nexus Group The founders of the Nexus Group set out in October 2008 to create a Managing General Agent (MGA) with a dynamic growth path into Specialty Lines insurance, backing this up with excellent service and cutting edge products. A five year plan was put into place with one overriding success criteria, that the group would become one of the largest and most profitable independent specialty MGAs in the London market by This has been achieved with gross written premium due to surpass US$135 million in 2015 and over 50% of the group s gross written premium emanating from regional brokers. The group has made profit every quarter since it started. The model is based on making an underwriting profit for Underwriting Partners who have paid profit commission out for every underwriting year since Nexus was founded, and cumulative gross written premium of more than US$365 million has been produced for the London Market. The Nexus Group currently has 20 underwriting partners who support their product offerings up to the following limits of liability for these Specialty classes of business:

5 Non Marine Property US$10m Limit of Liability Directors and Officers 30m Limit of Liability Financial Institutions 15m Limit of Liability Professional Indemnity 15m Limit of Liability Trade Credit 10m Limit of Liability for Whole Account and US$15m ( 10m) Limit of Liability for Single Situation Accident & Health 12.5m Limit of Liability Property & Casualty Employers Liability - 10m Limit of Liability Property & Casualty Public Liability - 5m Limit of Liability Property & Casualty Office - 1.2m Limit of Liability Accident and Health Term Life Assurance - maximum per life limit up to 2m and event aggregate up to 25m Limit of Liability Following the recent acquisition of EBA, the Group can now offer an extended product range that includes Surety, Bond, Dommages à l Ouvrage, Architects & Engineers Professional Indemnity Insurance, General Professional Indemnity Insurance, Fine Art and Specie Insurance, Miscellaneous Casualty Insurance, Construction Plant & Machine Risks Insurance, Life and Event Cancellation. Nexus Underwriting Management Limited, Company Number is registered in England and Wales. It is the holding Company for Nexus Underwriting Limited and Nexus CIFS Limited. For more information please visit: Contact: Roddy Langley Lysander PR Limited Insurance PR, Marketing and Communications T: +44 (0) E: roddy@lysanderpr.com Perceptive Underwriting