Nexus Group launches US financial lines division
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Nexus Group has launched a financial lines division in the U.S., under its newly formed entity Nexus Specialty Inc., the London-based managing general agent said Thursday.
The new financial lines division will be led by Stacy Paquet, who joined Nexus in 2019 after 11 years as president of management liability for OneBeacon Insurance Group.
Ms. Paquet said in a statement that the products to be launched will be detailed in a follow-up release. “But in general we will be offering management and professional liability products to private and not-for-profit middle-market companies, which will include the following coverages: D&O (directors and officers); EPL (employment practices liability); fiduciary, crime, cyber, employed lawyers; and E&O (errors and omissions).”
The underwriting and claims functions for the new division will operate from an office in the Chicago area, the Nexus statement said.
Underwriting capacity for the new line is provided by Professional Solutions Insurance Co., according to the statement.
“We have ambitious plans to grow in the specialty insurance market in the U.S.,” Adam Kembrooke, CEO and president of Nexus Specialty Inc., said in the statement.
