Novae suffers £6m loss before tax in "torrid year" for general insurance
Specialist insurer Novae has reported an underlying loss before tax of £6m for the year to 31 December 2011 in a "torrid year for the non-life insurance industry" compared to £36.2m profit in 2010.
However, gross written premium jumped by 6% to £624m from £587m in 2010. Around 37% of the GWP was from the reinsurance segment. This is up from 28% in 2010 and 19% in 2009.
The combined ratio
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: http://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on Claims
Why technology is making the human touch in claims more important than ever
View from the Top: Technology is transforming insurance, but claims handling still depends on expertise and empathy. Margaret Murphy, claims director at CFC, discusses the balance between digital tools and human insight.
Law firm executives to stand trial in February 2027
Five former executives of the shuttered law firm Axiom Ince will face trial in February 2027, having been charged by the Serious Fraud Office.
Extreme weather hitting insurers hard
All three of Travelers, AIG and Mapfre have put emphasis on extreme weather in their latest set of results.
Why PFAS is the greatest threat to insurance today
As “forever chemicals” become a growing focus of government regulation and a deluge of civil litigation, Emma Ann Hughes unpicks the potential impact of the manufacture and distribution of per and polyfluoroalkyl substances for the insurance industry.
Wedding insurance ensures the big day goes without a hitch
To mark Valentine’s Day, Insurance Post news editor Scott McGee discusses the wedding insurance market in 2025 with ombudsman Rachel Lam and Voyager’s Adam Underhill.
Responding to the magnitude of losses from Storm Éowyn
Cathy Scott, head of Northern Ireland at Crawford & Company, outlines how the loss adjuster is responding to a storm that the Met Office identified as one of the strongest to hit the UK in the past decade.
Why the government is wrong to shut out claimant voices
Trade Voice: Sue Brown, chair of the Motor Accident Solicitors Society, argues that claimant representatives must have a voice in the government’s Motor Insurance Taskforce.
Claims service stayed steady at end of 2024
The consistent improvement in claims service seen over the last 18 months plateaued at the end of 2024, with the market average NPS remaining at -4 and just one point up on the NPS recorded at the end of 2023.