Novae Group
Market Moves - 30 January 2014
Admiral, Canopius and Novae were among the recruiters in what was a busy week for insurers, with Bollington and JLT-owned Thistle the brokers making moves.
Marketform recruits Franks to boost cargo business
Lloyd’s specialist underwriter Marketform has recruited Howard Franks as a consultant to work with cargo underwriter Nicholas Edwards.
Ex-ANV underwriter Trueman to head up cyber at Novae
Novae Group has appointed ANV lead underwriter for enterprise risk Dan Trueman as head of its new cyber division.
Marketform recruits Novae’s Bellanca to PI team
Specialist Lloyd's insurer Marketform has recruited Novae’s professional indemnity specialist Antonio Bellanca.
Novae plays down speculation of imminent Antares deal
Novae has attempted to pour cold water on speculation linking the firm with a bid for fellow Lloyd’s player Antares by stating that “there is no certainty” of a deal taking place.
Kiln hires new stable mate for equine team
Kiln has appointed Bill Bevan as equine underwriter within the accident & health division to focus on bloodstock and livestock risks.
Nexus credit subsidiary swoops for Novae's MacLeod
Nexus CIFS has appointed the Novae Group’s Allie Macleod to the new role of business analyst.
Scepticism remains over ‘underwriting discipline’ in Q3
Full-year results expected to take a hit from St Jude storm.
Novae reports low losses but sees GWP drop 5%
Novae Group has reported low level losses due to a benign catastrophe period but also low investment returns for the period ended 30 September 2013.
Editor's comment: Bad gambles see millions dropped
While the average 2.2 million viewers of The Million Pound Drop often urge contestants to take a gamble, they are well aware of one vital rule that it seems some insurers have forgotten: if you are not 100% sure of the answer, the only way to proceed is…
Market moves: Insurers on top as appointments enter summer lull
Insurers eclipsed brokers in the recruitment race this week, as appointment activity entered its summer lull. QBE property director Finlay Smith returned to RSA and notable hires were also completed at Novae and Covéa, where commercial lines director…
Planned reductions behind GWP dip at Novae during 'challenging period'
Novae Group has attributed planned reductions in its reinsurance segment for a dip in gross written premium for the first half of the year.
Law report: Welding insurer awarded costs after breach of warranty row
This law report has been contributed by law firm Berrymans Lace Mawer.
Planned reductions results in Q1 GWP shrinkage at Novae
Novae Group chief executive Matthew Fosh has described the first three months of the year as “a solid start”, despite seeing his firm’s gross written premium shrink to £184.6m (Q1 2012: £231.1m)
Market Moves: Insurers take the week’s spoils as Ace leads recruitment surge
This week, insurers were on top, with Ace, Covéa and Liberty Mutual among the firms to have tied up deals to bring in new faces.
Charles Fry formally steps up as Novae CFO
The Novae Group has confirmed that Charles Fry has now formally taken up his position as chief financial officer.
Novae 'rebalances' book to deliver £49m profit
Novae has reported underlying profit before tax of £49.3m (2011: £6m loss) while the underlying pre-tax return on equity was 17.6% (2011: negative return of 2.1%).
Novae seeks insight into the future of insurance
Novae Group has launched its first industry survey into the future of the insurance industry.
Novae in recovery mode following positive trading update
Novae is in "recovery mode" having "turned a corner" by improving its profitability and return on equity according to Westhouse Securities.
Market moves: Willis reshuffle and new Marsh Asia-Pacific CEO among biggest changes
This week represented a big seven days for the broking community, with key changes at Willis and Marsh.
Ex-Guy Carpenter COO joins Novae board
Novae has appointed former Guy Carpenter chief operating officer Charles Fry as chief financial officer.
Piracy: Has the tide turned?
Piracy off the coast of Somalia has dropped significantly since last year – bringing insurance premiums down with it – but what’s behind the decline, and how can it be sustained?
Q-Re poaches Novae underwriting team
Q-Re, the reinsurance subsidiary of Qatar Insurance Company, confirmed today that is has hired 14 senior reinsurance staff who resigned from Novae in May.