Xenia parent company Kentro Capital records impressive 2021 results
London, Monday 6th June 2022: Kentro Capital Limited (‘Kentro”) has reported strong financial results for the year ended 31 December 2021.
Colin Thompson, Group Chief Executive Officer, Kentro Capital Limited, said:
“Driven by Nexus, our specialty underwriting MGA business, and Xenia, our specialty insurance broking arm, Kentro achieved strong growth and financial success in 2021. Kentro GWP grew by 19% to £367m in 2021 which generated £53m of turnover, up 21% on 2020. Kentro EBITDA grew 14% to £16.0m or £18.3m on a run rate basis.
I am delighted to report that Nexus Underwriting achieved significant organic growth in 2021, with GWP and Income up 19% and 18% respectively compared to 2020. Despite the challenges of Covid-19 impacting the financial performance of a number of Nexus trading units for longer than anticipated, the spirit and resilience of our employees, in combination with our diversified product portfolio and focus on underwriting performance, delivered impressive levels of organic growth.
In near perfect co-ordination with its sister company, I am pleased to report that Xenia achieved 18% and 17% growth in GWP and Income respectively when compared to 2020. In addition to Xenia’s strong financial performance, Xenia had a successful year of M&A activity, concluding four new acquisitions.”
To view the full statement from Colin Thompson, Group Chief Executive Officer, Kentro Capital Limited, together with further information on the results please click here.
About Kentro Capital
Kentro Capital Limited, formerly known as Nexus Underwriting Management Limited, is the parent company for Nexus Underwriting and Xenia Broking.
From the Greek word for centre, Kentro is central to the growth and evolution of our trading businesses, Nexus and Xenia, with a desire to work with others, building a group of companies that work together to complement our central vision and values. Kentro Capital continues to invest in both MGAs and insurance brokers globally.
Kentro 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).
Kentro in numbers:
• Over 300 employees
• 23 acquisitions across the insurance intermediary space
• Managed GWP of $600m
• 250+ employee shareholders
• 16 offices in nine countries
• 30% EBITDA CAGR (Compound Annual Growth Rate) since 2008