Specialty Managing General Agent (MGA) Nexus Group has announced Tony Egerton as chief executive officer and Gerard Pennefather as non-executive chairman to its leadership team with immediate effect.
Egerton has over 3 three decades of experience in (re)insurance and structured finance. He has spent the past 20 years in Asia where he worked in Hong Kong at Centre Solutions before becoming Lloyd’s Asia Pacific president, based in Singapore and then joining Nexus in August 2018 through the acquisition of Huntington Underwriters.
Meanwhile, Pennefather spent 12 years in corporate finance and treasury in New Zealand with New Zealand Equities and Ord Minett (now part of JP Morgan Chase).
In 2001, he founded WP Capital and the Huntington Group which owns, operates and invests in companies focused on the insurance as well as human capital industry.
Colin Thompson, founder and group CEO of Nexus, said: “I’m delighted to announce these internal appointments, Tony being promoted to CEO of Nexus Asia and Gerard to Non-Executive Chairman - it would be difficult to find higher calibre individuals to strengthen the leadership team,”
Adding: “As we strive to continue building our size, scale and relevance in the Asian market through organic growth, as well as manage a busy pipeline of M&A opportunities and a number of other strategic initiatives, this appointment is recognition of the fantastic contribution Tony has made to the group in the short period of time since our acquisition of Nexus Structured Solutions (formerly Huntington Underwriting) in August 2018, where he is Principal Officer and will continue to run the business alongside his new duties.
Tony will lead our future expansion across the Asian market, where our goal over the next two years is to become the largest Specialty MGA in the region, generating $50+mn GWP and $3.5mn EBITDA.
Meanwhile, I know Gerard will be invaluable as Non-Executive Chairman of Nexus Asia, a position which he takes on in addition to his role as Chairman of Nexus Structured Solutions. Like Tony, Gerard is widely known and respected in Asia and will assist in generating future M&A and other growth opportunities for Nexus.”