Insight and Intelligence on the Global Facultative Markets

5 February 2012

News Digest

23 March 2010

Novae Re targets short-tail property

After writing $384mn of premium in 2009, Novae expects this figure to hit $590mn in 2010, according to CEO Matthew Fosh. The vast majority of the additional underwriting capacity will be directed towards short-tail property business, with around £100mn deployed through Novae Re. Novae reported that pre-tax profits had plummeted from £40.2mn in 2008 to £4.2mn last year, as its bottom-line suffered from Air France and Colgan crashes, as well as trade credit hits coming...

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