8th June 2022
Kentro Capital Limited has reported strong financial results for the year ended 31st December 2021.
Colin Thompson, Group ceo, comments “Driven by Nexus, our specialty underwriting MGA business, and Xenia, our specialty insurance broking arm, Kentro achieved strong growth and financial success in 2021. Kentro GWP grew by 19% to £367m in 2021 which generated £53m of turnover, up 21% on 2020. Kentro EBITDA grew 14% to £160m or £18.3m on a run rate basis.
I am delighted to report that Nexus Underwriting achieved significant organic growth in 2021, with GWP and Income up 19% and 18% respectively compared to 2020. Despite the challenges of COVID-19 impacting the financial performance of a number of Nexus trading units for longer than anticipated, the spirit and resilience of our employees, in combination with our diversified product portfolio and focus on underwriting performance, delivered impressive levels of organic growth.
In near perfect co-ordination with its sister company, I am pleased to report that Xenia achieved 18% and 17% growth in GWP and Income respectively when compared to 2020. In addition to Xenia’s strong financial performance, Xenia had a successful year of M&A activity, concluding four new acquisitions.”
Nexus Trends(44 articles)