Encouraging Performance and Bold Expansion Plans Outlined at AGM
DUBAI, United Arab Emirates: Business is booming and there are big expansion plans on the horizon, according to the CEO of Nexus Group, the GCC region's largest independent insurance broker.
Speaking to a packed Jumeirah Beach Hotel auditorium at the company's annual general meeting, Tarun Khanna revealed how its savings business was up 36% on the same time last year, the protection business was up 31% and employee benefits was up 17%.
“This has been a truly spectacular year, but I believe the best is yet to come,” said Khanna.
“Nexus Group does not invest for the short-term. We are always looking ahead, and there is no reason why we cannot be in an additional 10 to 15 countries within the next decade.”
Nexus Group recently ramped up its operations in Bahrain and entered the Kuwait market.
Key to the company's next phase of growth is to recruit an additional100 salespeople by 2015 to create a team of over 500, and a potential expansion drive into Asia. Notable high-growth areas include general insurance, employee benefits and Jumbo life insurance (a life insurance policy of 2 million dollars in face value or more).
Peter Ellen, Chief Operating Officer, Nexus Group, said: “We don't wait for things to happen. We don't watch while they happen. We make them happen. Nexus has established a hugely powerful group of passionate employees that are intensely driven by a desire to protect the futures of individuals, families and businesses across the region. These are employees that genuinely believe in what they do, and will serve as the foundation for what promises to be a very bright future indeed.”
Joining Nexus Group at the AGM were speakers from partners such as Emirates NBD Asset Management and Dominion Funds. Attendees were also given a rousing speech by financial services veteran and acclaimed motivational speaker Jim Cronin.
Nexus Group's reputation in the region is largely built on a long history of attracting and retaining some of the most talented consultants in the industry. This is supported by arguably the Middle East and North Africa (MENA) region's most rigorous and extensive consultant training programme.
Over the past year, the company's training and education efforts have taken on another dimension through a series of seminars and road-shows aimed at informing clients on issues such as exit planning, planning for their children's education, wealth creation and employee benefits.
The company has also recently launched nexuscompare.com, the UAE's most efficient, comprehensive and transparent insurance comparisons portal, which allows users to instantly compare and purchase cover.
Nexus Group has won twelve high profile industry awards in less than seven years, recently triumphing in the Personal Lines and Training categories of the prestigious Insurex Awards.