Nexus Group at 2017 MENA Insurance Awards
Nexus Group, the region’s largest independent financial advisor, was honoured with three coveted recognitions at the 2017 edition of the MENA Insurance Awards, bringing the total number of accolades the UAE-headquartered firm has received over the last 11 years to a remarkable 20 awards.
The industry-leading MENA Insurance Awards recognise and reward Middle East and North Africa-based insurers, reinsurers, and brokers that have demonstrated exceptional customer service and innovative product development over the past 12 months.
Nexus received the ‘Commercial Lines Broker’ and the ‘Personal Lines Broker’ awards, which are given to a company that has shown the best business strategy and maintained a strong client base over the past year. The firm also received the ‘Most Innovative Broker’ award for its ability to continuously meet client demands and demonstrate creativity across its comprehensive portfolio of insurance schemes.
The panel of expert judges, comprised of insurance industry leaders from across the region, were impressed by Nexus’ thorough understanding of the regional market and its capacity to offer sound financial guidance to its clients through its more than 550-strong workforce of qualified consultants.
“Every day, thousands of clients rely on us to provide sound financial advice that not only will help them pave the way to a promising future – be it for their loved ones, their businesses, or their own individual ambitions, but also to protect them from life’s many unexpected, but very real, misfortunes,” said Tarun Khanna, CEO of Nexus Group.
“Their financial security and peace of mind is what inspires everything we do. This is truly an exciting start to 2017 -- we are honoured to have received these three prestigious recognitions, and promise to continue delivering excellence across all our services.”
Nexus commercial lines business showed considerable growth between 2015 and 2016, posting an 11% year-on-year increase, with corporate lines alone growing by a strong 34%, driven by the increased regulation of employer-provided health insurance.
The firm’s personal lines business also demonstrated continued success, having seen an average 4% year-on-year (2015-2016) growth across its personal lines portfolio, which includes protection, medical, home, travel, motor, and general saving. Within personal lines, Nexus’ medical insurance business saw a staggering 49% growth, which can also largely be attributed to the mandatory health insurance requirements put forth by regulators.
Nexus Group helps its clients achieve long-term financial goals and security through its wide range of innovative solutions, ranging from life, medical, and motor insurance, to a comprehensive series of education, savings, and Takaful plans. The firm has terms of business with many prestigious local and global licensed providers and delivers professional, ethical and quality advice on life, savings, and general insurance for clients who wish to review their financial situation to meet specific goals.
As part of the company’s drive to develop and promote professional standards, Financial Consultants are evaluated against the standards of the UK’s Chartered Insurance Institute (CII). After two weeks of initial residential training, financial consultants are required to achieve the CII Award in Financial Planning.
Nexus Group has its own internal Compliance Department to ensure that all customers have the correct financial product to address their needs and that legal and regulatory requirements are fulfilled.