Novae Group
British Insurance Awards 2022: Specialist Insurance Company of the Year - Axis Insurance International
The judges commended Axis Insurance International for its strong performance and growth, and success in realigning its business following the Novae integration.
Axis faces $130m nat cat loss in fourth quarter
Axis Capital estimates it will take a $130m hit as a result of fourth quarter catastrophe and weather-related losses.
Axis to consolidate Lloyd’s business into Syndicate 1686
Axis Capital has initiated plans to consolidate its Lloyd’s business into Axis Syndicate 1686.
Blog: Insurers need to manage currency risks
George Chapman, in charge of fund and institutional sales at Afex, explains how insurers can manage currency risks after the fall in sterling following the UK's vote to leave the European Union.
Will the last of the Lloyd’s listed carriers be snapped up in the coming years?
The number of independent Lloyd’s listed carriers is dwindling. What will happen if the last players are swept up?
International: Trade credit demand is up
European political instability and financial regulations are pushing demand for trade credit cover, especially from banks that are keen on optimising their capital.
Novae adopts Axis brand as deal is completed
Axis has completed its acquisition of Novae, which will be merged into the Bermudan-insurers brand.
AIG names ex-Novae CFO Charles Fry as reinsurance head
AIG has named former Novae chief financial officer Charles Fry as head of reinsurance, operations and transformation.
Axis unveils £468m Novae acquisition timeline
Axis has announced the timeline for its £468m acquisition of Novae.
Novae backs Fiducia engineering facility
Fiducia MGA has launched an engineering facility with capacity provided by Lloyd’s syndicate Novae.
Market veteran Ian Burford joins Fidelis as specialised risks chairman
Ian Burford is joining Fidelis’ London underwriting team as chairman of specialised risks.
Novae shareholders give Axis deal the green light
Novae shareholders have overwhelmingly accepted a £477.6m takeover by Axis Capital with approximately 99.97% of shareholder votes cast in favour of the proposal.
Axis increases Novae takeover offer to 715p per share
Axis has improved its cash offer to acquire Novae to 715 pence per share valuing the Lloyd’s listed insurer at approximately £477.6m.
Novae and Axis boards give acquisition the green light
The boards of Novae and Axis have agreed the terms of sale that will see the Bermuda-based reinsurer take over the Lloyd’s carrier.
Novae makes £14m loss before tax in H1
In its first set of results since being acquired by Axis, Novae has revealed that its combined operating ratio deteriorated 5.9% over the past year, from 95.7% to 101.6% in H1 2017.
Italian regulator places broker Ariscom into special measures
The Italian insurance regulator has placed broker Ariscom into special measures.
Axis receives regulatory nod for managing agency
Axis Capital Holdings has received final approval from the UK’s regulators and Lloyd’s to launch its own Lloyd’s managing agent.
Axis to buy Novae for £468m
Axis Capital has made an offer to buy Lloyd’s insurer Novae for £467.6m.
Dive In to delve into the 'Diversity Dividend'
The 'Diversity Dividend' is the theme of the third edition of the Dive In festival taking place in September.
Week in Post: Bonsai trees, jelly beans and the thousand-yard stare
The majority of the Post team started the week as ‘virgins’ of the British Insurance Brokers’ Association annual conference. This morning, I see most of them have the same look in their bloodshot eyes. War veterans call it the thousand-yard stare.
Novae warns on full year COR and exits four lines
Lloyd's specialist insurer Novae is reshaping its business as it expects a full year combined operating ratio above 100% for the full year.