Novae profits fall in first half

Underlying profit before tax at the newly re-named Novae group fell in the first half of 2006, the company's interim report said today. In its statement to the stock exchange, the firm said excluding professional costs incurred in the scheme of arrangement and formation of new insurance company, PBT was £16.0 million (H1 2005: £27.7 million)

Highlights included:

Annualised return on equity 26% (H1 2005: 40%) Tangible net assets per share 30.0p (H1 2005: 38.2p) Earnings per share 2.5p (H1 2005: 5.3p) Combined ratio 83.8% (H1 2005: 71.9%)

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 copy this content. Please contact info@postonline.co.uk to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Post? View our subscription options

Register

Want to know what’s included in our free registration? Click here

Already have an account? Sign in here

Is time ticking on leasehold altogether?

News Editor’s View: Scott McGee asks if the insurance industry's headache of having to justify the fees charged to flat owners for arranging cover is about to be replaced by the pain that will come with leasehold status being ditched for commonhold ownership.

Admiral holds climate course as Trump takes office

Admiral Group chief sustainability officer Michelle Leavesley has doubled down on the insurer’s intentions to achieve its transition targets, despite the likely climate rollback in the US due to President Donald Trump coming into office in January 2025.

What if Elon Musk ran FCA authorisations?

Trade Voice: Graeme Trudgill, CEO of the British Insurance Brokers’ Association, argues the regulator’s clock-stopping authorisations process is a drag on the sector and should be far slicker.

Most read articles loading...

You need to sign in to use this feature. If you don’t have an Insurance Post account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here