Nexus Underwriting, a Brown & Brown group enterprise, introduced it has entered into an settlement to amass Arma Fusion Ltd., the guardian firm of Arma Underwriting Ltd.
Arma is a number one specialty reinsurance MGA primarily based within the Dubai Worldwide Monetary Centre (DIFC) in Dubai, UAE, specializing in property, power, legal responsibility, shopper and accident and well being (A&H) reinsurance traces.
Monetary particulars of the deal weren’t disclosed.
Based in 2017, Arma has rapidly constructed up a robust popularity demonstrated by the relationships it has shaped with glorious capability companions, a variety of product choices to the native market, sturdy service, and tailor-made options for dealer companions.
That is Nexus’ 18th MGA acquisition since inception and marks the primary MGA acquisition since they had been acquired by Brown & Brown in October 2023.
Arma will proceed to be led by founder and Chief Govt Officer Michael Rafter, who will work with James Lawrie, Nexus CEO UK, Europe & Worldwide, to additional develop throughout the Center East.
“This acquisition signifies our ambition to proceed investing within the quickly rising insurance coverage markets of Dubai and the Center East. Arma’s enterprise, with its vary of specialty industrial merchandise underpinned by vital underwriting specialization, will develop and improve our present product providing,” commented Stuart Rouse, Kentro and Nexus group chief government officer.
“This funding demonstrates our ambition to drive outcomes not solely by way of sturdy natural progress, but additionally by way of strategic acquisitions of organizations that match culturally and make sense financially,” Rouse added.
“Arma is a extremely revered and well-established enterprise, and I’ve been vastly impressed by the workforce’s entrepreneurial mindset, intensive technical underwriting expertise and observe file in delivering underwriting returns to capability companions,” in response to Lawrie. “I sit up for working carefully with them as they embark on the subsequent stage of their journey as a part of the Nexus workforce.”
“We’re thrilled to announce this vital milestone for Arma Underwriting, marking an thrilling new chapter for our firm and all our stakeholders—together with our devoted workers, valued capability and dealer companions in addition to loyal cedants. Becoming a member of forces with Nexus is a outstanding alternative,” mentioned Michael Rafter, Arma founder and CEO. “We now have present in them to be a accomplice who isn’t solely strategically aligned but additionally shares our cultural values. This partnership positions us completely to speed up our formidable progress plans within the area.”
About Nexus
Based in 2008 and with its international headquarters in London, UK, Nexus Underwriting is a number one, unbiased, specialty MGA with a give attention to area of interest insurance coverage lessons of enterprise.
Nexus is a completely owned subsidiary of Kentro Capital Ltd., a holding firm with a give attention to investing in MGAs globally. Kentro supplies institutional assist to its wholly owned companies and employs c.300 teammates in 9 nations: UK, France, Germany, Italy, The Netherlands, the US, China (Hong Kong SAR), UAE (Dubai) and Malaysia (Labuan FT). Kentro is a part of Brown & Brown group.
Supply: Nexus
Matters
Mergers & Acquisitions
Reinsurance
Insurance Wholesale
Involved in Insurance coverage Wholesale?
Get automated alerts for this subject.
