Nexus Group’s Specialty Managing General Agent (MGA) has announced the launch of a new Alternative Risk Transfer (ART) business unit led by Christof Bentele, President of Nexus Specialty Casualty.
Nexus ART offers multi-year structured reinsurance solutions, with a primary focus on property, casualty and multi-line insurance.
Tim Starr, an experienced actuarial data scientist, will join Bentele as Head of Analytics and Pricing. Richard Zhang also joins the team as Head of Underwriting for ART.
Zhang is an international structured insurance expert and joins from WTW, where he was Head of ART for Asia Pacific and the Middle East.
Bentele commented: “We are excited to launch the new Alternative Risk Transfer Business to offer risk transfer and retention solutions that do not fit into 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 Nexus knows niche insurance lines best.”
He added: “We are thrilled to have Tim and Richard on board and look forward to an exciting future.”
Adam Kembrooke, CEO and President of Nexus Group US, said, “Our business has quadrupled over the last three years and the majority of this growth has come from the successful launch of several new products. A great example of this is our Specialty Casualty division, led by Christof, which has seen tremendous success over the last 18 months since its launch.
“We currently see a real need in the market for a service-led offering in the structured solutions space and our talented team will work closely with our brokers to develop unique alternative risk solutions for our clients. We are confident that the new ART business will be a profitable and fast-growing addition to our already extensive product range.”
