PC: Reinsurance News
Strategic Acquisition Expands Nexus’ Reach in Global Insurance Markets
Nexus Underwriting, part of the Brown & Brown group, has announced its agreement to acquire Arma Fusion Limited, the parent company of Arma Underwriting Limited. This acquisition marks a significant step in Nexus’ global expansion strategy, with a strong focus on Dubai and the broader Middle Eastern insurance sector.
Arma Underwriting, headquartered in the Dubai International Financial Centre (DIFC), specialises in reinsurance across property, energy, liability, consumer, and accident and health (A&H) lines. Since its founding in 2017, Arma has built a reputation for delivering tailored insurance solutions, earning the title of Managing General Agent (MGA) of the Year at the 2023 Middle East Insurance Industry Awards.
This acquisition is the 18th for Nexus since its inception and the first since being acquired by Brown & Brown in October 2023. Arma’s leadership will remain intact, with founder and CEO Michael Rafter continuing to guide the company. Rafter will collaborate with James Lawrie, Nexus CEO for the UK, Europe, and international operations, to drive further growth in Dubai and the surrounding region.
Strengthening Nexus’ Footprint in Dubai
Stuart Rouse, CEO of Kentro and Nexus Group, highlighted the strategic importance of the acquisition in expanding Nexus’ presence in Dubai and the Middle East. “This acquisition signifies our ambition to continue investing in the rapidly growing insurance markets of Dubai and the Middle East,” Rouse stated. He added that Arma’s range of specialty commercial products, backed by significant underwriting expertise, would enhance Nexus’ existing offerings.
“This investment demonstrates our ambition to drive results not only through strong organic growth, but also through strategic acquisitions of organisations that fit culturally and make sense financially,” Rouse emphasised.
James Lawrie echoed the sentiment, saying, “Arma is a highly respected and well-established business, and I have been hugely impressed by the team’s entrepreneurial mindset, extensive technical underwriting experience, and track record in delivering underwriting returns to capacity partners. I look forward to working closely with them as they embark on the next stage of their journey as part of the Nexus team.”
A New Chapter for Arma Underwriting
Michael Rafter, CEO of Arma Underwriting, described the agreement as a defining moment for the company. “Joining forces with Nexus is a remarkable opportunity. We have found in them a partner who is not only strategically aligned but also shares our cultural values. This partnership positions us perfectly to accelerate our ambitious growth plans in Dubai and the region,” Rafter said.
The transaction is expected to be finalised in the first quarter of 2025, subject to customary closing conditions.
Nexus’ Global Operations
Established in 2008 and headquartered in London, UK, Nexus Underwriting operates as an independent specialty managing general agent (MGA) focusing on niche insurance classes.
Nexus is a subsidiary of Kentro Capital Limited, a holding company that invests in MGAs globally. Kentro supports its businesses and employs approximately 300 people across nine countries, including the UK, France, Germany, Italy, the Netherlands, the United States, China (Hong Kong SAR), the UAE (Dubai), and Malaysia (Labuan). Kentro is part of the Brown & Brown group.
