BP Marsh increased its stake in Nexus by 1.9% last week. Prior to this, reports suggested that a sale of the MGA to Ardonagh was close to being announced.
In an investee announcement, BP Marsh said:
Zurich disappointed in new #discountrate. David Nichols, Ch Claims Officer: "The failure to change the discount rate to a balanced level will only serve to increase the cost and, therefore, affordability of certain types of insurance - especially for higher risk customers." pic.twitter.com/ac1CfBzfxX— Zurich Insurance UK (@ZurichInsUK) July 15, 2019
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