19 July 2019 - The REG Network, the on-demand leading RegTech solution for automating legally and regulatory mandated counterparty risk management from REG (UK) Ltd (‘REG’), has been selected by The Nexus Group (“Nexus”), a leading specialty MGA, to provide counterparty due diligence and agency management across its companies globally.
Nexus utilise the REG Network to establish new agencies, administer existing broker relationships and to facilitate regulatory oversight and governance.
Jonathan Rusby, Chief Commercial Officer of REG, said: “We are delighted to be working with Nexus. The global nature of Nexus’s underwriting business means that not only do they need to comply with FCA requirements in the UK, but also with the requirements of regulators in multiple jurisdictions.
The REG Network allows Nexus and their producing brokers to save time and cost, reducing the burden of repetitive manual inputs and checks of key corporate and regulatory data. This allows for faster and more seamless business critical agency administration from day one, including the electronic exchange and signing of TOBAs internationally.”
Tim Coles, Chief Operating Officer of the Nexus Group, said: “REG is proving to be an invaluable business partner, simplifying and helping create efficiencies in our processes and controls. We look forward to working with them further as we grow our UK and international presence, and implement solutions that allow us to better service our businesses.”
REG continues to develop the features available within the REG Network to support the requirements of its clients, members and the insurance industry.
For more information, contact:
Full Circle Corporate Communications
Mark Huxley, firstname.lastname@example.org
Matt Beasley, email@example.com
Tel: + 44 (0)207 267 7887
REG is an innovative Regtech network that delivers real time technology driven intelligence, due diligence and risk management solutions to the insurance sector. REG’s market leading offering has transformed counterparty due diligence management and accelerated agency documentation exchanges across the insurance sector.
REG’s software suite provides solutions for business to business insurance trading, delegated authority and vendor risk management. The REG network comprises 3,200 entities with 62,000 connections between them and continues to grow. A REG due diligence check analyses 1,000 companies in just 50 seconds.
About the Nexus Group
Founded in 2008 and based in London, United Kingdom, the Nexus Group is a leading, independent, specialty Managing General Agency (MGA) group with a focus on niche insurance classes of business.
Its expansion has been rapid and Nexus is now a global business represented in nine countries: UK, Ireland, France, Germany, Italy, The Netherlands, USA, China (Hong Kong SAR) and Malaysia (Labuan FT).
For further details, please visit: www.nexusunderwriting.com