Novae insurance income to dwarf reinsurance earnings
Novae Group's investment returns grew by £6.5m to £22.1m for the first nine months of 2012, but gross written premiums remained flat at £510.6m (2011: £516.4m).
Reinsurance GWP grew 1.8% to £216.3m (2011: £214.5m), while the net claims ratio fell to 58.7% from 73.5% and renewal rates were on average 1% up compared with last year.
This comprised a natural
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