Nexus sees insurance business up 51pc
Dubai, October 5, 2010
Nexus, one of the largest independent insurance brokerages in the Middle East region, said it had witnessed a 51 per cent year-on-year growth in general insurance sales and was now aiming for further growth across all businesses in 2011.
The growth in general insurance business proved that the mind-set of people was becoming more responsive to the need to insure their assets, said a statement from Nexus.
The impressive growth in general insurance business since the company provided this service some four years ago has been complemented by a 35 per cent year-on-year growth in life insurance and savings, according to figures presented at Nexus’ Annual General Meeting (AGM) in Dubai last week.
Owner and CEO of Nexus, Mahmoud Nodjoumi, said: 'Nexus is striding forward after a demanding 2009 when many companies succumbed to the credit crisis. We have seen strong growth in 2010 across all our businesses and I am very excited about 2011 which I anticipate is going to be a great year for Nexus.'
'We are more prepared, more knowledgeable, we have a greater talent base, and we are investing more than ever in training for our people; all of which will enhance the services we offer our clients,' he added.
“The general insurance side of the business is up and proving very strong. We now have 310 sales people working across the GCC and 20 plus insurance providers on board, and we are looking to increase our presence within the GCC in the next few years,” deputy CEO of Nexus, Tarun Khanna, told the 300-strong AGM.
In July Nexus was presented with the prestigious “Best Takaful Brokerage” award at the International Takaful Summit in London, global recognition of its professional service to clients requiring Sharia compliant products.
“Nexus is a very responsive and ethical organisation that cares about giving quality advice to all its clients. Winning the Takaful award is recognition that as a company we are ready, and able, to embrace alternative forms of financial services and to provide clients with exactly what they want, to fulfil their individual needs,” commented Nodjoumi.
The AGM also saw the launch of a new Platinum Club for the top 20 financial consultants within Nexus, the company said in a statement.
These consultants became the founding members of the club in recognition of their outstanding professional performance, it added.
Nexus has offices in Dubai, Abu Dhabi, Doha, Bahrain and has plans for expanding across the region in the coming year.
Nexus’ strategic partners, Zurich International, Loomis Sayles & Company and Natixis also attended the meeting, giving presentations of their respective products and organisations.-TradeArabia News Service
More Finance & Capital Market Stories
- GCC banks' outlook stable, says report
- GBSA panel names new chairperson
- NBK group CEO to step down
- SABB gets Fitch ratings boost
- Saudi SABB prices $400m sukuk issue
- Shuaa Capital gets Moody's ratings upgrade
- QInvest ‘advised on $3.5bn sukuk in 2013’
- Al Hilal Bank wins top Islamic finance award
- Barwa Bank wins top Islamic banking awards
- ‘BPO offers big benefits for Saudi economy’