The business will become part of Millstream Underwriting, which has been owned by Nexus since 2015
London: Nexus Underwriting (Nexus), announced today that it has acquired Sure Insurance Services (Sure), a leading provider of specialist solutions for the medical tourism industry.
The deal has received regulatory approval, and the consideration is undisclosed.
Sure was founded in 2003 by Alison Thornberry and has since grown to become the leading MGA for specialist medical travel insurance programmes. Sure’s products serve a large and fast-growing medical tourism market in the UK, Australia and South Africa.
The business will become part of Millstream Underwriting, which has been owned by Nexus since 2015. Alison and the team will remain with the business after the acquisition, under the leadership of Millstream’s Managing Director, Rob Amati.
The acquisition reinforces Nexus’ continued appetite for niche and specialist MGAs that dovetail with the Nexus bespoke approach. The company regularly acquires firms that offer thoughtful, analytical expertise, align culturally and make sense financially with the group’s priorities and as part of its disciplined growth strategy.
Rob Amati said: “We are very pleased to welcome Alison and the Sure team into Millstream and the wider Nexus family. Sure is a highly respected specialist MGA with a strong track record in medical travel insurance, which will support our mission to deliver quality underwriting and claims services to our brokers and policyholders as well as long-term profitable results for our capacity providers.”
Alison Thornberry, Sure Insurance Services, said: “I’m incredibly proud of what we have built at Sure over the past two decades, and I’m delighted that joining Nexus will allow us to further enhance our specialist medical travel and revisions offering, support our partners and drive our growth, while maintaining the same team, knowledge and service our customers rely on.”
This acquisition follows the launch of Arrowhead Intermediaries, Nexus’ parent brand.