1997 - INCORPORATION
Nucleus Management SA (NM) had been incorporated by Vincent J. Derudder in Luxembourg in 1997 to go with the project European Business Network (EBN) launched in 1996 by Andrew Peat and Vincent J. Derudder.
EBN was the first pan European insurance distribution network merging a few of the most successful European insurance brokerage units across Europe (from Belgium, Germany, France, Italy).
EBN was promoting new products with leading life insurance operators such as Clerical Medical (CMI) or Scottish Mutual International.
EBN was regulated by the CAA (Luxembourg).
2000 - EBN TAKEOVER
In 2000, Andrew Peat and Vincent J. Derudder sold their shares in EBN further to the takeover of EBN by CMI. At the same time, David Cicurel joined the Board of NM.
2005 - NUCLEUS EURO-ALLIANCE
In 2005, NM created Nucleus Euro-Alliance SCA (NH1), together with Kevin Mudd, founder of OFS-InterAlliance WorldNet (listed on the London Stock Exchange), and a Barcelona-based Spanish stockbroker.
NM was appointed General Partner.
Within four years, Vincent J. Derudder and his team succeeded to build a business of € 1,1bn assets under administration and more than 2,300 registered intermediaries across Europe.
2009 - ACQUISITION INTO INSURANCE
In 2009, because of the crisis and a next change in strategy NH1 has been restyled as Nucleus (Holdings) SCA and made its first acquisition in the insurance business: Asco Life SA (Antwerp) with € 40m under management (BNB regulated).
In the meantime, NM and NH1 were instrumental in the incorporation and the management of investment funds AIF- SICAVs based in Luxembourg (CSSF regulated), and later in Liechtenstein.
Thierry Mooij joined NM to manage the Benelux operations.
After a successful merger with a Belgian mortgage bank and two years of re-organization, the company Asco Life rebranded as Patronale Life SA had built a book of business over € 130m.
2011 - INVESTMENTS & NUCLEUS LIFE
During 2011-2012, NM and NH1 made various investments (IBS Europe SA, Plenum Life AG rebranded as Nucleus Life AG - with Kevin Mudd and Andrew Peat as co-investors -, later Monarch Assurance Plc).
John Tenconi, CEO of Monarch Assurance Plc (FCA regulated) joined the Board of NM.
2012 - PATRONALE LIFE
NH1 sold its participation in Patronale Life SA with a profit in 2012
2012-2020 - RESTRUCTURING
It took to NM two years of restructuring from 2011 to 2013, plus a total investment of € 14mio to organise an increase in Nucleus Life AG AuM from CHF 66mio to CHF 259mio in 2020; today’s Nucleus Life AG’s AuM are over CHF 270 million.
2021 - ACQUISITION APPROVAL & SHARE CAPITAL INCREESE
The FMA (Liechtenstein regulator) approved the acquisition finally in July 2021 after a share capital increase of € 6mio and the set-up in Luxembourg of Nucleus Holding II SC sp (NH2), a joint venture between the owners of TriCap Assurance SPC and Photonike Capital SA, a Belgian investment company listed on the Euronext-Paris, together with NM and NH1 – NM acting as General Partner.
Vincent J. Derudder is the Executive Director of NM, assisted by a Management Board made of Simon Colboc, Fausto Ventriglia and Alvar Virkus.
2022 - PRESENT & OUTLOOK
Beside the development of NH2 participations, NM is currently busy with several undergoing projects:
- Honey Aisbl – an international Belgium based association dedicated to pets’ protection
- Sharvee Aisbl - an international Belgium based association dedicated to classic cars collection promotion
- M&A brokerage with the help of professional international associations and an international network
- The Nucleus Market Place managed by AEC, a 25% NH2 subsidiary, offering exclusive deals to group clients and employees
- FECIF – a pan European trade association of 400,000 European financial intermediaries for which NM is supplying the administration support
Vincent J. Derudder (74 - French) is the Executive Manager of NM. He is a jurist by training with over 45 years’ experience in the field, managing several regulated financial services entities across Europe.
He was elected in May 2021 a Councillor (conservative) for the French community resident in Luxembourg.
Vincent was a member till recently of the European Commission Expert Group on Automatic Exchange of Financial Information; he was also a guest professor at the University of Nice (France), teaching European Law (Financial services regulation), when serving FECIF “Fédération Européenne des Conseils et Intermédiaires Financiers” (www.fecif.eu – pan European trade body of the European financial services/insurance intermediaries – 400,000 members) since creation in 1999 as a Board member.