Modern Slavery Statement
Under the Modern Slavery Act 2015 (the Act), commercial organisations operating in the United Kingdom are required to set out, in a publicly available statement, their commitment to comply with the Act and provide information to show the steps taken not only to mitigate the risk of modern slavery occurring within their organisation but also their commitment to considering such risks arising in the wider supply chains.
This statement is made pursuant to section 54 of the Modern Slavery Act 2015. It describes the ongoing commitment of Kentro Capital Limited (Kentro) to prevent modern slavery and human trafficking from taking place in its business and supply chains.
The following UK-based subsidiaries of Kentro are covered by this statement:
- Nexus Underwriting Limited
- Millstream Underwriting Ltd
- EBA Insurance Services Limited
- Nexus Europe SARL UK Branch
- Equinox Global Limited trading as Nexus Trade Credit
- Nexus CIFS Limited trading as Nexus Trade Credit
- Nexus Claims Management Services Limited
- Xenia Broking Group Limited
- Xenia Broking Limited
We believe that the nature of our business, as a provider of insurance services to customers, means that we are not directly exposed to a high risk of modern slavery and human trafficking. However, this does not reduce our commitment to monitor the position and ensure adherence to uphold the policies and procedures in place to safeguard against slavery or human trafficking practices.
Policies & Procedures relating to the Act
Kentro is committed to ensuring that there is no slavery or human trafficking within its own business and supply chains and to help achieve this the Group has appropriate systems and controls in place. As part these systems and controls, the Group has several policies and procedures in place, to ensure that its employees conduct business responsibly, ethically and in compliance with all applicable laws and regulation.
- Fit and Proper
- Financial Crime & Sanctions
- Anti-Bribery & Corruption
- Anti-Money Laundering
- Onboarding new employees
- Onboarding business entities
Kentro has comprehensive recruitment processes in place to ensure that we comply with relevant UK employment laws and we continue to monitor these to ensure on-going compliance with the Act. We carry out various due diligence checks on any new employees, including ensuring that they have the right to work in the UK.
Our Supply Chains
When considering our supply chains, we focus on those firms who we pay for the provision of services. We source and place insurance business through a range of worldwide Brokers, MGA’s, Coverholders and Insurers. Before commencing a business relationship with any of this firms, they are required to pass our internal on-boarding procedure which include various due diligence checks. We only deal with reputable licensed insurance firms who are regulated by a local insurance regulators.
For certain activities we retain outsourced service providers to carry out certain tasks (e.g. claims handling loss adjusting, policy processing etc.) and these service providers are appointed in line with the firms Outsourcing Policy, with thorough due diligence being carried out on any prospective provider.
All our staff receive regular training on all aspects of financial crime, including modern slavery and trafficking and on what their responsibilities are in terms of recognising potential issues and reporting their concerns.
This statement has been approved by the Board of Directors of Kentro Capital Limited and on behalf of the other UK based subsidiaries within Kentro.
Kentro Capital Limited