Nexus announces ambitious expansion drive
Dubai, October 20, 2011
Nexus Group, one of the region’s largest independent insurance brokers, has announced ambitious expansion plans and new services.
The plans were revealed at its quarterly general meeting in Dubai attended by some 250 executives. They heard how business was developing across the region, with general insurance set to grow by 43 per cent in 2011 and life and savings by a healthy 26.8 per cent during the same period.
Highlighting some of the key drivers behind the impressive growth, Mahmoud Nodjoumi, CEO and founder of the Nexus Group, explained that the company intended to further implement a host of new and valuable client propositions. This would include further development in employee benefits and health insurance utilising authorised products developed by regulated providers.
Nodjoumi also outlined plans to expand Nexus’s geographic footprint beyond Dubai, Abu Dhabi, Qatar, Bahrain and Lebanon to include Kuwait and Saudi Arabia.
“Our achievements so far have been impressive, but the best is yet to come. This company is going to grow in leaps and bounds. We are committed – not for today, not for tomorrow, but for a long, long future,” said Nodjoumi, addressing the audience.
“We believe we have the passion. We believe we have the know-how. We believe we have the desire. We believe we have commitment. We started this business passionately – with devotion, with a plan. We build relationships with our customers by giving them the best advice, the best unbiased independent solutions and developing their trust in us. We will continue to put our customers first as they are the reason we are able to build the future of our business.”
Currently employing 340 financial consultants – set to grow to 425 by 2012 – Nexus provides a range of independent financial services using a broad spectrum of licensed products developed by regulated insurance providers. Financial advice covers savings, retirement planning and educational plans, as well as offering general insurance requirements for vehicles, boats and home contents, together with all types of insurance needs required by businesses.
Nexus was founded in 2006 by Nodjoumi through a management buy-out of the distribution arm of Zurich International Life, which was first established in 1989. – TradeArabia News Service