17 September 2018Analysis

Nexus acquires Labuan-based Huntington Underwriting

Nexus Group, a specialty managing general agent (MGA), has acquired Huntington Underwriting (HUL), a structured solutions underwriting manager operating out of Labuan International Business and Financial Centre, Malaysia.

HUL describes structured solutions as bespoke, non-traditional re/insurance programmes that manage the volatility in ‘baskets’ of risks, usually over several years, incorporating aggregate limits of liability and rewarding underwriting profitability.

The Labuan underwriting manager oversees a portfolio of structured solutions business across Asia comprising a mix of proportional and non-proportional reinsurance.

Huntington is licensed by the Labuan Financial Services Authority and will continue to be run post completion by the company’s founders Gerard Pennefather and Anthony Egerton.