The MGA has announced a raft of promotions following the launch of its new broking group

Managing general agent Nexus Underwriting has announced a reorganisation of its management team following the recent launch of Xenia Broking Group.

As part of this reorganisation, Tim Coles is taking on the role of chief executive of Xenia Broking Group, having previously been chief operating officer of Nexus.

Meanwhile, Tim Brangwyn, managing director of Millstream Underwriting Limited, is promoted to the role of chief operating officer and Rob Amati, currently co-Director of Millstream, is promoted to managing director of that business.

Nexus group chief executive Colin Thompson said: “These moves reflect our unrelenting single-mindedness to bring out the best of our talented executive team as the group continues its journey of success and growth. I am very pleased for Tim Brangwyn – he brings great experience and a credible track record of running a business to his new role and I am confident he will lead us to further achievements.

“We launched Xenia Broking Group Limited in March 2019 when Tim Coles became its CEO in addition to his role as Nexus Group COO.  It is with great credit to his leadership that we were able to announce last month the integration and launch of Xenia. This was an important step in Xenia’s development and enables us now to pursue our strategy of separation of the broking group as we believe it will develop faster as an independent entity. Tim will now focus on that process and the development of Xenia. 

“Millstream remains in the highly skilled hands of Rob Amati, who has shown what he is capable of and is more than ready for promotion to Managing Director. I am excited by what these changes mean for the group and for where they will take us.”

Tim Coles, chief executive of Xenia Broking Group, said: “We are very clear that our primary objective in Xenia to become the world’s leading trade credit and surety broker is eminently achievable. We have the experience, employee talent and specialisation needed to achieve that aim. We see the process for establishment of Xenia as an independent business as a hugely exciting opportunity for all in Xenia and for all those that we hope will join us.”

And Brangwyn added: “I’m delighted to have the opportunity of contributing more widely to Nexus’ continued success and look forward to working with all the business leaders within the group. The difficult times we’re all facing bring fresh opportunities and Nexus is ideally positioned to evolve and take full advantage of them.”