The rapidly developing insurance and savings industry presents significant opportunities for business growth, according to leading regional brokers, Nexus Group.
Speaking to a full auditorium at the Nexus Group’s Annual General Meeting 2015 (AGM), Tarun Khanna, the firm’s CEO, highlighted a sharp shift towards protection schemes observed in 2015, with an expected growth of more than 28 percent this year, compared to six percent in 2014.
The region’s leading insurance broker is also expecting a 35 per cent increase in its general insurance business in 2015, over 24 percent growth in its life and savings business, and a double digit increase in funds under management.
The highlight of 2015, however, was the launch of Nexus in Asia, following the management buy-out of Zurich Singapore. Officially announced in October, the entrance into the Asian market is expected to contribute to the growth of Nexus Group, and demonstrates the firm’s commitment to providing world-class advisory services.
“Our recent launch in Singapore, together with the strong figures we have seen so far, has made 2015 one of the best years for all of us, as we demonstrate our expertise on a global level. By maintaining our commitment, honesty, and hard work, 2016 is set to become a record-breaking year for Nexus Group,” said Khanna.
“I look forward to keeping the momentum high for years to come, as we continue to seek opportunities in efforts to set international industry standards, and offer our clients around the world the holistic and reliable advice that they have come to expect from Nexus Group.”
Singapore was identified by Nexus Group as an ideal expansion opportunity, with an efficiently regulated and governed market, composed of an increasingly wealthy population, and strategically positioned in Asia.
CEO of Nexus Singapore, Gary Harvey, said: “The establishment of Nexus in Singapore fills a large gap in the market as Singaporean customers are now demanding more choice, and expect professional services. Building on the customer-oriented approach that Nexus is renowned for, we will continue to expand our offerings with quality providers, and ensure our team is capable of providing unrivalled advisory services through persistent training and development programs.”
Earlier this month, Nexus Group was awarded Best Broker of the Year at the Middle East Insurance Industry Awards, organised by the Middle East Insurance Review (MEIR).
Marking the fifteenth award in the last nine years, the prestigious MEIR recognition is a testament to the company’s leadership in providing exceptional broking services, its commitment to a truly customer-oriented business model, and strong financial performance.