Specialty managing general agent (MGA) Nexus Group has announced the launch of a new Alternative Risk Transfer (ART) business, under the leadership of Christof Bentele, President of Nexus Specialty Casualty.
Nexus ART will offer multi-year structured re/insurance solutions, focusing primarily on Property insurance, along with Liability and Multi-line insurance.
Tim Starr, an experienced actuarial data scientist, will join Bentele as Head of Analytics and Pricing. Richard Zhang is also joining the team as Head of Underwriting for ART.
Zhang is an international structured insurance expert, joining from WTW, where he was the Head of ART for Asia Pacific and the Middle East.
Bentele commented: “We’re delighted to launch the new Alternative Risk Transfer Business to offer risk transfer and retention solutions that don’t fit the conventional, traditional insurance model.
“These alternative risk solutions are growing in popularity as companies seek tailored flexibility for a growing number of risk scenarios, and niche insurance classes of business is what Nexus knows best.”
He added: “We are thrilled to have Tim and Richard on board with us and we look forward to an exciting future.”
Adam Kembrooke, CEO and President of Nexus Group US, said: “Our business has quadrupled in size over the last 3 years and the majority of that growth has been as a result of several successful new product launches, a great example of which is our Specialty Casualty division led by Christof, a huge success over the last 18 months since launch.
“We see a real need in the market now for a service-focused offering in the structured solutions space and our talented team will work closely with our brokers to build unique alternative risk solutions for clients. We’re confident the new ART business will be a profitable and fast-growing addition to our already expansive range of products.”
