Nexus Underwriting Management Ltd. to Be Renamed Kentro Capital Ltd.

Nexus Underwriting Management Ltd. (NUML), the London-based specialty managing general agent and intermediary, announced it will be renamed Kentro Capital Ltd.

Nexus Underwriting (Nexus), the specialty MGA, and Xenia Broking (Xenia), the leading credit insurance and surety distribution specialist, will operate as distinct, independent brands under the Kentro holding company.

Colin Thompson will continue to lead Kentro as chief executive officer. Tim Coles will remain chief executive officer of Xenia and Colin Thompson will continue as chief executive officer of Nexus.

The change of name to Kentro – the Greek word for “centre” – became effective on Feb. 22, 2022.

“Nexus today underwrites in excess of US$500 million gross written premium, is the product of 15 acquisitions, operates out of nine counties and very much has its own distinct brand as a leading MGA platform,” commented Thompson, founder and CEO of Kentro.

“Similarly, Xenia is the second largest trade credit broker in the UK – having successfully concluded eight acquisitions and employing in excess of 70 staff – and is now a leading specialty broking platform,” he added.

Since the group started in 2008, it has “enjoyed unparalleled success” with a group EBITDA compound annual growth rate (CAGR) of 30%, Thompson said.

“It is clear as we continue along this development path – and in order to continue along this trajectory – that our branded businesses need to continue to forge their own unique identities,” he continued.

“By becoming Kentro Capital Ltd., we are refocusing our central purpose of managing our capital structure and identifying and funding acquisitions – while ensuring that our distinct business segments are provided the space and separation to fulfil their ambitions.”

He noted that nothing will change from an ownership perspective and Kentro Capital Ltd., which successfully refinanced in last summer with a new debt facility of £70 million ($95 million), “will continue to provide institutional support to its wholly owned businesses.”

Source: Kentro Capital Ltd.

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