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Greene & Greene is a long established firm of solicitors based in Bury St Edmunds, Suffolk. Our lawyers advise individuals and businesses based all over the UK.

We regularly attract new clients who have been using firms in London, but now receive a more cost efficient and more personal service from us here in Bury St Edmunds.

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Wednesday
Jul262017

Greene & Greene advises Nexus on its first US Acquisition

Greene & Greene has been advising Nexus Group on its purchase of various businesses since 2008 and was delighted to have provided legal support on its first US acquisition of the Personal Accident (PA) Treaty Reinsurance MGA operated by ZON Re of New Jersey.          

Mergers and acquisitions specialist, Simon Ratcliffe, a partner in the corporate team at Greene & Greene, was primary advisor on the deal, working with longstanding adviser to the Group, Andrew Cooper.

A pivotal moment in history of Nexus, the addition of Treaty Reinsurance will bring a new class of business to the Group and will initiate the launch of its new company, “Nexus Re”

ZON underwrites an annual portfolio of over $15m in gross written premium and estimates it will generate EBITDA in excess of $3m for Nexus during 2017, making "Nexus Re" instantly one of its most profitable operating companies.

Established in 2003, the business will continue to be led by its existing senior management team.

Kieron Farrelly, Nexus Re chief executive, said: “We are pleased to be joining Nexus and bring our treaty underwriting expertise for personal accident reinsurance following a long and successful run under the ZON Re banner. Our core team and support staff remains intact so that we can maintain continuity as we grow the portfolio with our current panel of risk partners.”

Globally, there are very few Treaty Reinsurance MGA companies, and even fewer that have been trading profitably for 15 years. Nexus Re will be in the enviable position of representing US, European and Lloyd's Underwriting Partners in its specialist areas of Treaty Underwriting.

If you have any questions with regards to the acquisition, disposal or reorganisation of a private company, or any other Corporate law matters, please contact: Simon Ratcliffe (simonratcliffe@greene-greene.com  ~ 01284 717426) or Andrew Cooper (andrewcooper@greene-greene.com ~ 01284 717511) 

For more information on the services offered by Greene & Greene Solicitors please visit www.greene-greene.com and follow on Twitter @GreeneGreeneLaw.

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