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 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 Regulation
Climate campaign group slams government’s captives consultation
Global NGO campaign Insure Our Future has criticised HM Treasury’s captives consultation due to the potential for lowering capital requirements for captives to benefit from the fossil fuel industry.
What insurers should do to stop sexual harassment
Analysis: Damisola Sulaiman reviews the progress of trade bodies in responding to the Financial Conduct Authority’s findings on sexual harassment in the industry and explores what steps insurers and brokers can take to prevent abusive incidents and the ramifications if they fail to do so.
Big Interview: Jane Kielty, Aon UK and Ireland
Aon UK and Ireland’s CEO, Jane Kielty sits down with Scott McGee to talk through her first year in the job, and why 2025 will be the year of high performance for the broker.
FCA stops potential ghost broker from trading
The Financial Conduct Authority has stopped Arthur Temlett, trading as Abacus Insurance Consultants, from carrying out any regulated activities, including acting as an insurance broker.
Chancellor to sit down with top insurance bosses
Chancellor Rachel Reeves is to host various forums with financial services bosses over the coming weeks, including with senior executives from the insurance and reinsurance industries.
PRA CEO tells Starmer his main focus is stability
Sam Woods, CEO of the Prudential Regulation Authority, has written to prime minister Keir Starmer promising to support the Labour government’s growth goal.
FCA CEO promises focus on growth in letter to prime minister
CEO of the Financial Conduct Authority, Nikhil Rathi, has written to prime minister Keir Starmer promising growth will be a “cornerstone” of the regulator’s strategy through to 2030.
New City minister promises Labour will unlock broker potential
Less than 24 hours after replacing Tulip Siddiq as City minister, the new holder of the post Emma Reynolds has promised to partner with brokers to help them achieve growth.