Welcome to the July 2021 issue of Credit Management News Digest. This issue is sponsored by Nexus Trade Credit.

PLUS: The UK Economy: Short-Term Prospects
This month's featured article by Ian Selby Head of Trade Credit, Nexus Trade Credit UK
UK Late Payment, Business Distress & Insolvencies
Over 50,000 UK small businesses go bust every year because of late payments. According to new research by Know-it, small to mid-sized enterprises in the UK are chasing approximately £50 billion in late payments — a figure that equates to five outstanding invoices per firm. In addition, over 50,000 small businesses go bust every year as a direct result of late payment. Lynne Darcey Quigley, Founder & CEO of Know-it, commented: “We are witnessing an increasing inability for SMEs to pay overheads on time, difficulties paying staff salaries and most worryingly, a heavy reliance on invoice financing to inject capital into their businesses. Lynne concluded: “Unfortunately, the data highlights an increasing struggle when it comes to late payments. Despite the government outlining a route out of lockdown, many organisations on the receiving end of late payments will struggle to survive after the crisis." To read the article on Know-it's website go to https://know-it.co.uk/news/over-50000-small-businesses-go-bust-every-year-because-of-late-payments/.
Zombie companies increase in the UK. Forbes Burton has warned that an increase in the number of zombie businesses in the UK as a result of the pandemic will lead to a decrease in business investment. Forbes Barton cites recent research by Onward that calculated that between 1-4% of companies have gone into a 'zombified' state since the start of the pandemic and warns that this percentage keeps increasing, taking the total percentage of 'zombie companies' to higher than 20%. As a direct result, business investments in the UK economy will decrease by £42 billion every year. In addition, Rick Smith, Managing Director of Forbes Burton, predicted that there may be trouble ahead for companies that have used UK government support to keep their companies afloat: "Many of these companies have existed for more than a decade and were profitable companies; however, they do not see the point in continuing as they have built up debt due to the pandemic and are only surviving due to the measures that are in place.” To read Forbes Barton's news release go to https://www.forbesburton.com/blog/zombie-companies-on-the-rise-in-the-uk.
The number of UK corporate insolvencies more than halved during the first six months of 2021. According to new research by Interpath Advisory, an analysis of notices in The Gazette reveals that a total of 301 companies fell into administration or receivership from January to June 2021 — down from 655 in H1 2020 and 686 in H1 2019 — with May and June recording the lowest monthly numbers of administrations and receiverships since Interpath first started tracking data in 2005. Blair Nimmo, Chief Executive of Interpath Advisory, commented that although the dichotomy of having historically low insolvency rates at a time of significant economic crisis is prompting concern "that the taxpayer is propping up an army of zombie companies" and that insolvency levels will start creeping back up again during the second part of the year, "I'm personally not so sure cases will escalate rapidly — all stakeholders, including banks and HMRC, continue to be pragmatic in their approach to companies experiencing difficulties as a consequence of the pandemic.” To read Interpath Advisory's news release go to https://www.interpathadvisory.com/media-hub/articles/uk-insolvencies-have-more-than-halved-over-h1-2021-as-fears-of-zombie-nation-rise/.
UK company insolvencies remain low compared to pre-pandemic levels. According to the latest data from the Insolvency Service, there were 1,011 registered UK company insolvencies in May 2021. This indicates an increase of 8.8% compared to April 20201's figure and is 7% higher than the number registered in the same month in 2020 (946), but is 25% lower than the number registered two years previously (pre-pandemic; 1,352 in May 2019). Duncan Swift, Past President of R3 and Restructuring and Insolvency Partner at Azets, commented that it's too early to say whether the mild increase in corporate insolvency numbers is the start of something bigger, but noted that "UK government support has held off rather than halted the economic damage of the pandemic, preventing a serious rise in insolvency levels." As support measures begin to be phased out, he cautioned that many business owners will have to look ahead and consider how they'll cope. To read R3's news release go to https://www.r3.org.uk/press-policy-and-research/news/more/29909/may-2021-monthly-insolvency-statistics-r3-response/.
A surge in UK company dissolutions in Q1 2021 is cause for concern. New research by InfolinkGazette has found that the 7% increase in UK company insolvencies in May 2020, compared to the same month in 2020, was driven by an increase in Company Voluntary Arrangements and comes at the same time as a notable surge in the number of company dissolutions in Q1 2021, which increased by 25% and 20% compared to Q1 in 2020 and 2019. Greg Connell, Managing Director of InfolinkGazette, commented these figures are of concern, "because it is likely that some company directors have taken advantage of creditor forbearance during the pandemic and simply opted to go down the voluntary strike-off path, despite being technically insolvent. This means that creditors are unlikely to be paid and directors won’t be held to account.” InfolinkGazette's research also noted that there has been a sharp rise (14,395 companies in the 12 months to July 2021 compared to 10,830 in the previous 12 months) in the number of Members Voluntary Liquidations, where Directors and Members have called time on their companies. Greg noted that: “because these are solvent companies, the closures are not counted in the insolvency statistics, but such steep back-to-back annual rises foretell declining business optimism.” To read InfolinkGazette's news release go to https://www.infolinkgazette.com/?pid=6.
The UK government extends its temporary insolvency measure. The UK government has advised that insolvency measures introduced to support UK businesses during the pandemic are set to be extended till the end of September 2021. The measures, which were introduced in the Corporate Insolvency and Governance Act in March 2020 and were due to end on 30 June 2021, are intended to protect businesses from aggressive creditor enforcement and remove personal liability on company directors. Small suppliers are also allowed to cease supplying a business in insolvency (different rules apply to larger businesses), and entry into a moratorium will remain relaxed. Minister for Corporate Responsibility, Lord Callanan, said: "We’re extending these important measures to give businesses the extra breathing space they need as we cautiously reopen the economy and look to build back better from the pandemic. With the threat of aggressive creditor action and insolvency eased, companies will be able to focus all their efforts on their recovery." To read the Insolvency Services' news release go to https://www.gov.uk/government/news/government-extends-business-support-measures.
UK Economy & Trade Sectors
Continued UK economic recovery is put in doubt by the Delta variant. The National Institute of Economic and Social Research (NIESR) has advised that May’s month-on-month UK GDP growth of 0.8% was disappointing and, outside the sectors which grew as a direct result of the lifting of COVID-19 restrictions, indicated little sign of growing economic momentum. NIESR now anticipates growth in June of 0.9%, with 4.8% growth in the second quarter of this year and 1.9% growth in Q3. Although these figures are still notably above the UK's historical trend growth rates, NIESR cautions that with COVID-19 cases rising again in the UK and consumer caution evident, the lifting of further restrictions on 19 July risks boosting the economy in the short term at the expense of a longer-lasting and more sustainable recovery. To read NIESR's news release go to https://www.niesr.ac.uk/publications/july-2021-gdp-tracker.
UK GDP in May undershoots expectations. The latest analysis from the Office for National Statistics (ONS) has estimated that GDP grew by 0.8% in May 2021, the fourth consecutive month of growth, but remains 3.1% below it's pre-pandemic peak. Weakness in services — which grew by 0.9% in May 2021 following 2.8% growth in April — remained a chief factor in May's performance. According to EY Item Club, May's figures disappointed expectations, being little more than half the consensus growth expectation of 1.5% — despite the boost to activity from the resumption of indoor hospitality on 17 May. Martin Beck, Senior Economic Advisor to the EY ITEM Club, commented: "Accommodation and food service activities grew by 37.1% month-on-month, but overall services output was up only 0.9% month-on-month. This was largely due to a soft performance from non-consumer-facing parts of the services sector." To read EY's news release go to https://www.ey.com/en_uk/news/2021/07/gdp-in-may-undershoots-expectations-ey-item-club-comments.
The UK economy could recover to pre-pandemic levels by the start of 2022. According to the new economic analysis by PwC, the UK economy could be on course to recover to pre-pandemic levels by the start of 2022 — one year earlier than previously expected. PwC has prepared two projections for a ‘quick’ and ‘slow’ recovery. In the ‘quick’ recovery scenario, the UK could see growth of 7.2% in 2021 and return to pre-pandemic levels by the end of Q1 2022; in the 'slow' recovery scenario, growth could be 6.5%, with full recovery by the end of 2022. Health, construction and education are likely to lead growth, growing between 9%-23% under PWC's‘ quick recovery’ scenario and between 7%-19% under the ‘slow recovery’ scenario. However, PwC warns that lingering effects from the pandemic will create a drag on growth in the hospitality and entertainment sectors, with both likely to remain 34%-40% and 23%-26% below their pre-crisis levels at the end of 2022. To read PWC's news release go to https://www.pwc.co.uk/press-room/press-releases/uk-economic-outlook-economy-outperforming-expectations.html.
The UK economy could be back to pre-COVID levels by the end of this year. According to the latest CBI Economic Forecast, the UK economy is poised for considerable economic growth over the Summer, with UK GDP set to bounce back to its pre-COVID level towards the end of 2021 — a year earlier than previously predicted. The CBI is forecasting UK GDP growth of 8.2% this year, and 6.1% in 2022 (revised up from 6.0% and 5.2% in the previous forecast), following a historically large (-9.9%) fall in output over 2020. However, although the CBI Director-General, Tony Danker, noted that the data clearly indicates that there is pent up demand and ambition across many sectors, he added that “clearly this does not apply to the hardest-hit sectors from the pandemic who even now face continued delays and genuine challenges to stay viable." To read the CBI's news release go to https://www.cbi.org.uk/media-centre/articles/uk-economy-back-to-pre-covid-level-by-end-of-year/.
Quarterly Economic Survey for Q2 indicates a marked improvement in UK business conditions. The British Chambers of Commerce’s (BCC) latest Quarterly Economic Survey (QES) has found a marked improvement in business conditions in Q2 as COVID-19 restrictions ease. The survey of over 5,800 UK firms showed that some key indicators, such as domestic sales and business confidence, displayed significant rises as more firms reported improved conditions, with some indicators returning to pre-pandemic levels. The QES also indicated that 32% of firms had seen an improvement in cash flow, a 12-point rise from Q1. Director General of the BCC, Shevaun Haviland, said: “This latest set of results show that an economic recovery is beginning to take shape, but our members are also telling us that many businesses are far from being out of the woods yet." To read BCC's QES go to https://www.britishchambers.org.uk/news/2021/06/quarterly-economic-survey-q2-marked-improvement-in-business-conditions-but-inflation-concerns-hit-record-highs.
UK private sector growth remains strong, but a two-speed recovery is a concern. According to the CBI’s latest monthly Growth Indicator, in the three months to June, private sector activity across the UK economy grew at the fastest pace since May 2015. Manufacturing and distribution activity grew at record rates (+37% and +60%, respectively), while growth in business and professional services remained strong — although somewhat slower than the previous month (+38% from +50%). Conversely, consumer services activity continued to fall, but at an even sharper pace (-34% from -19%). Alpesh Paleja, CBI Lead Economist, said: “Where we need to remain vigilant is the emergence of a two-speed recovery." To read the CBI's news release go to https://www.cbi.org.uk/media-centre/articles/private-sector-growth-remains-strong-but-two-speed-recovery-a-concern-cbi-growth-indicator/.
UK manufacturing growth forecast doubles to outpace the economy overall. According to a major survey published by Make UK and BDO, having seen "a brutal" 10% decline in output in 2020, the UK manufacturing sector is now set to recover a significant amount of that loss in 2021 — and outpace the growth of the economy overall. As the result of a surge in both domestic and overseas orders, Make UK has upgraded its growth forecast for manufacturing from +3.9% to +7.8%, ahead of its forecast for overall GDP growth of +7.5%. However, Make UK stressed that the figures are reflecting a recovery from a very low base, with balances last year reaching record lows — worse than those seen during the financial crisis. Overall, between 2019 and 2020, the manufacturing sector lost approximately £18 billion in value. To read BDO's news release go to https://www.bdo.co.uk/en-gb/news/2021/industry-surges-as-accelerating-recovery-takes-hold-make-uk-bdo-survey.
UK manufacturing output in Q2 grew at the fastest pace since 1975. According to the latest monthly CBI Industrial Trends Survey, UK manufacturing output volumes in the three months to June grew at the fastest pace on record (since 1975). The survey of manufacturing businesses reported output increasing in 15 out of 17 subsectors. Growth was driven by the motor vehicles & transport equipment and food, drink & tobacco sub-sectors. The improvement in demand conditions was also evidenced by total order books in June reaching their strongest outturn since 1988, while export order books improved to their firmest in more than two years. Tom Crotty, Group Director at INEOS and Chair of the CBI Manufacturing Council, said: “There is a real sense of optimism from many in the sector that there are good times ahead." To read the CBI's news release go to https://www.cbi.org.uk/media-centre/articles/manufacturing-output-grows-at-record-pace-cbi-monthly-industrial-trends-survey/.
June UK retail results bounced back strongly. New figures from BDO indicate that UK retail sales in June not only rebounded but also started to make up for some of the losses of last year. According to BDO’s High Street Sales Tracker, total like-for-like sales, combined in-store and online, increased by +52.1% in June, though from a base of -14.4% for the equivalent month last year. Online spending, most notably amongst fashion retailers, also bolstered overall growth. All three sectors recorded positive total like-for-like sales, particularly fashion (+73.7%) and homeware (+22.0%) compared to June 2020. Sophie Michael, Head of Retail and Wholesale at BDO LLP, commented: “These June figures continue to build on April and May’s results, with growing consumer confidence sustaining a rosy Summer recovery. Much progress is being made in this reopening phase, with week three and four’s results demonstrating the strength of the recovery and suggesting an uplift in sales even when compared to a more ‘normal’ year." To read BDO's news release go to https://www.bdo.co.uk/en-gb/news/2021/june-retail-results-bounce-back-strongly-from-2020-losses.
European & Global Economy 
66% of all European businesses foresee a considerable risk of late and non-payments growing as government support is withdrawn. Intrum's latest European Payment Report has found that half of the European companies it surveyed acknowledge that they are lucky to have survived 2020, with 66% foreseeing a considerable risk of late and non-payments growing as government support is withdrawn. As a result, 65% of SMEs have adopted a more proactive approach to how they mitigate liquidity squeeze and the risk of late payments. In addition, there has been a 20% drop from the previous year in companies that are prepared to accept longer payment terms than they are comfortable with. Overall, Intrum found that business executives foresee uncertainty for several years to come, and around half of those who have seen their profits decline say it will be 2022 or 2023 until they see a return to business as normal. To read Intrum's news release with a link to the report go to https://www.intrum.com/press/press-releases/press-release-article/?id=E4439B42177FAA4B#European_businesses_see_outlook_improving__now_hungry_for_growth.
G20 GDP returns to pre-pandemic level in Q1 2021 — but with large differences between countries. The OECD has advised that GDP in the G20 area returned to its pre-pandemic level in Q1 2021, growing by 0.8% compared with Q4 2020. Among the G20 economies, India, Turkey and China — whose GDP was already above pre-pandemic levels — continued their recovery, while GDP in Australia, Korea and Brazil returned to pre-pandemic levels. However, for the remaining G20 economies, GDP still lagged behind pre-pandemic levels. While GDP growth accelerated in the US (to 1.6%, after 1.1% in Q4 2020) and Italy (to 0.1%, following a contraction of 1.8%), growth turned negative, most notably in Germany (-1.8%, after +0.5%), the UK (-1.5%, after +1.3%) and Japan (-1.0%, after +2.8%). Overall, the UK and Italy recorded the largest gaps to pre-pandemic GDP levels, at -8.7% and -6.4%, respectively. Year-on-year, the G20's GDP growth rebounded to 3.4% in Q1 2021. China recorded the highest annual growth (18.3%), while the UK recorded the largest annual fall (-6.1%). To read the OECD's news release go to https://www.oecd.org/newsroom/g20-gdp-growth-first-quarter-2021-oecd.htm.
Nearly half of global businesses say COVID-19’s impact was worse or much worse than expected. According to the sixth annual Global Risk Landscape report from BDO (a survey of 500 C-suite executives across Europe, the Middle East, Africa, Asia-Pacific and the Americas), 48% of the companies surveyed reported that the impact of the pandemic had been worse or much worse than expected. Among businesses that welcome risk, this percentage fell to 25%, while 52% of risk-averse firms said they had experienced a worse than anticipated impact. BDO’s survey also reveals differing experiences across sectors. The professional services sector was affected less than others, with just 3% describing the impact of the pandemic as much worse than expected. Manufacturers also coped relatively well, with many adjusting their business models to make essential products such as PPE or ventilators. To read BDO's news release go to https://www.bdo.co.uk/en-gb/news/2021/nearly-half-of-global-businesses-say-covid-19-impact-worse-or-much-worse-than-expected.
Post-pandemic global recovery will remain elusive in 2021, with big divergences between and within regions. D&B had advised that its forecasts show considerable regional divergences for GDP growth in 2021. In North America, the success of the vaccine programmes will see growth come in at 6.3% (compared with a 3.7% contraction in 2020) — the strongest regional forecast. Asia-Pacific will also experience strong growth of 5.8%, although — excluding China — as a whole the region looks set to not recover its 2019 output until 2022. D&B predicts growth of 4.2% in Europe, where vaccines are being rolled out, and 4.0% in Latin America, which is still experiencing increasing cases levels but will be boosted by strong commodity prices. The latter will also support growth in Eastern Europe and Central Asia (3.5%), Sub-Saharan Africa (2.7%), despite its inability to access and roll out vaccines, and the Middle East and North Africa (2.5%). To read D&B's news release go to https://www.dnb.co.uk/perspectives/finance-credit-risk/country-risk-global-outlook.html.
Will there be a wave of global business bankruptcies? International Banker has published an article that examines whether an an "imminent tidal wave of bankruptcies" will hit the global banking sector when government support measure is phased out. The article notes that the IMF expects that the pandemic will boost the share of insolvent SMEs from 10 -16% this year across 20, mostly advanced, economies in Europe and the Asia-Pacific region. “The increase would be on a magnitude similar to the rise in liquidations in the 5 years after the 2008 global financial crisis, but it would take place over a much shorter period of time,” the IMF wrote in April. The Fund also anticipates that 18% of SMEs may become illiquid in that they may not have enough cash to meet their immediate financial obligations. The views of the EU, European Central Bank, Bank of England and Bank for International Settlements are also examined. To read International Banker's article go to https://internationalbanker.com/banking/is-a-wave-of-bankruptcies-about-to-hit-the-global-banking-system/.
Credit Management News & Tools
Credit risk management automation: how do you get there, and what routes can you follow? Simon Marshall of Co-Pilot has published an article that describes the extent to which the world of credit risk management has changed, with both COVID-19 and other global change events (such as sustainability and climate) set to continue to disrupt supply chains and a "tidal wave" of insolvencies expected. He notes that although some businesses may wish to automate their credit risk processes purely for the traditional goal of obtaining greater efficiency, many businesses are now aware that automation of their credit risk management processes will be a key part of operating successfully in the new world of credit risk. Simon discusses the three routes that businesses can take towards automation in order to "put themselves in control of events." To read Co-pilot's article go to http://www.co-pilot.co.uk/news/credit-risk-management-automation.
The UK's Prompt Payment Code is strengthened — although the scheme remains voluntary. The UK's Small Business Commissioner website has advised that, as of 1 July 2021, the UK Prompt Payment Code has been strengthened by introducing an added requirement that 95% of invoices from small businesses (with less than 50 employees) must be paid within 30 days. Other requirements — such as paying 95% of invoices within 60 days,  requiring small and medium-sized signatories to report annually on their payment performance, and requiring signatories to recognise the right of suppliers to charge late payment interest and charges if an invoice is paid late without justification — remain unchanged. For more information go to https://www.smallbusinesscommissioner.gov.uk/code-reforms/.
Coronavirus: Support for UK businesses. The House of Commons Library has published a new report (with information correct as of 24 June) which provides an overview of initiatives and UK government schemes to support UK businesses through the Coronavirus pandemic. The initiatives examined include: 
  • Coronavirus Job Retention Scheme 
  • The Self-Employment Income Support Scheme (SEISS) 
  • Statutory Sick Pay (SSP) 
  • Business loans 
  • COVID Corporate Financing Facility 
  • HMRC arrangements
  • Insolvency and corporate reporting 
  • Insurance 
  • Eat Out to Help Out 
  • Kickstart. 
R3 launches a free guide for company directors. R3 has launched a free guide for company directors that explains how to spot signs of financial distress, the options open to them for resolving it, and where to find sources of regulated advice. R3 President, Colin Haig, commented: “The prospects for business rescue are always better the earlier issues are identified — we urge anyone who is concerned that their business could be struggling to download our guide and to seek advice as soon as possible." To download R3’s guide, 'Get Back to Business: A guide to dealing with corporate financial distress', visit www.backtobusinessuk.com.
Supporting Growth & Survival programme. Forums International has announced that it has joined forces with key drivers from the credit industry to create the SME: Supporting Growth & Survival programme — a collaboration programme designed to help and support SMEs navigate the unchartered waters post-COVID. Benefits of Membership will include:
  • Regular webinars
  • Forum events with leading industry experts
  • Sharing of industry news and regulatory information
  • Resources and downloads with useful information. 
To find out more information and to register your interest, go to https://www.forumsinternational.co.uk/2021/06/22/sme-supporting-growth-survival-programme/.
Events & Professional Development
SCHUMANN Digital Credit Risk Management Conference 2021, 30 September.
The virtual SCHUMANN Conference gives attendants the opportunity to find out what is new in the world of digital credit risk management. Experts from many industries will report on the challenges due to the current economic developments and the opportunities offered by increasing digitalization.
Attendants will experience more than 40 speakers from well-known, international companies in two live streams and 30 slots. Participants from more than 20 countries have already registered.
Companies are currently faced with the need to realize corporate expansions in a way that preserves liquidity and capital, and therefore to push forward digitalization and automation in credit management. Profit from the experiences of other companies with new methods and future-orientated technologies.
The agenda will be published soon here: SCHUMANN Conference.
Registration is free of charge: https://portal.prof-schumann.com/en.
National Credit Awards 2021. 21 October 2021. The Waldorf Hilton, London.
New for 2021, MoneyAge is proud to present the National Credit Awards.
The awards are designed to honour the outstanding professionals and firms in the many varied fields of the credit industry, to recognise, celebrate, and promote best practice, to support continuing development, and to contribute towards raising the standards within the credit arena.
The awards are free to enter and you can enter as many categories as you like.
Head over to the website to find out more.
SUBMIT YOUR ENTRY: https://www.moneyage.co.uk/creditawards/index.php.
Deadline for entries: 25 June 2021
Stecis is getting back on track with Webinars, Classroom courses and Masterclasses.
As we all hope that the Covid-19 pandemic is under control after the summer, STECIS has planned again a number of classroom courses in November 2021. For Trade Credit Insurance and Surety Bonds, at each Foundation and Advanced courses will be offered in the vicinity of Amsterdam Schiphol. In case still necessary, all applicable Covid-19 restrictions will be in place during the classroom training courses. During the classroom trainings real, practical cases will be discussed. Additionally, various webinars on both Trade Credit Insurance and Surety Bonds have been already scheduled throughout the year. These webinars are interesting to all individuals who are starting their career in the TCI and/or Surety Bonds industry, but also for all other interested parties like brokers, re-insurers´ employees, lawyers, credit managers etc.
To expand our offering STECIS is currently developing three masterclasses on Trade Credit Insurance that will address the following topics: TCI and Digitalisation, Non-traditional TCI products and TCI and Finance. These masterclasses will be hold by top experts from the TCI industry presenting the recent developments and trends in the field of TCI. Joining these masterclass will be not only be an excellent way to keep up to date with important developments in the TCI world. The courses are also an excellent means to increase your professional network as you will meet other participants and top experts from the industry.
When the outlines of the three masterclasses are available, they will be shared via Credit Insurance News and the website of Stecis.
More information can be found on the Stecis’ website: www.stecis.org.
All courses will run at the Steigenberger Hotel at Amsterdam-Schiphol.
Further information can be obtained by sending an email to: info@stecis.org.

About the Sponsor: Nexus Trade Credit
Nexus Trade Credit offer a range of solutions to cover the requirements of suppliers, subcontractors, service providers and importers/exporters for business–to-business transactions against trade credit risks. The client may have a policy in place already or may be looking to insure a specific requirement that does not fit within their existing programme.
In addition, we provide products that enhance companies’ credit management including First Limit, a service offering real-time credit opinions and 24/7 monitoring and, in the UK only, First Collect, a highly regarded debt collection service in partnership with STA International.
We currently operate from offices in the UK, Germany, Netherlands, France, and the USA. We specialise in Whole Turnover, Non-Can and Top-Up policies, and can also consider cover on an XoL and Key Buyer basis.
Nexus Trade Credit is backed by several leading Insurance Companies and Lloyd’s syndicates, enabling us to offer policies with very strong ratings.
Nexus Trade Credit is part of the Nexus Group, a leading, independent, specialty Managing General Agent (MGA) group based in London with a focus on niche insurance classes of business. Nexus employs over 300 staff and is represented in nine countries: UK, Ireland, France, Germany, Italy, The Netherlands, USA, China (Hong Kong SAR) and Malaysia (Labuan FT).
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