Novae Launches Int’l. General Liability

Lloyd’s insurer Novae announced that it has “moved into the international general liability market with the recruitment of two senior underwriters to Syndicate 2007. Mark Davies and Rupert Taylor have joined the company as joint unit heads of the specialist international general and products liability account – Novae’s latest addition to its underwriting portfolio.”

The bulletin explained that the “team will write both primary and excess business with a particular focus on industrial, manufacturing, onshore energy, transportation, utilities, construction and mining sectors. Most risks will be considered, with the exception of US-registered companies, and the team will look to write both open market placements and facility business on a predominantly lead basis.”

Novae’s Chief Underwriting Officer Peter Matson commented: “Both Rupert and Mark are highly respected underwriters with enviable track records in the international GL arena. They have all the ingredients to establish a successful and profitable account known for its underwriting quality and philosophy.”

Taylor spent ten years at ACE as multinational casualty manager and Davies has spent eight years as a class underwriter of international GL risks with ACE, Catlin and, most recently, Constable Syndicate. The two worked together at ACE.

“The international GL account will be further strengthened by the arrival of Ian Hatch in early May,” the announcement added. He joins Novae from Constable Syndicate as technical underwriter. He previously held positions at LPSO and ACE and has worked with both Taylor and Davies.

“Between us we have considerable experience writing a profitable international GL account and with both a healthy capacity behind us and a forecasted turn in the cycle this is a great opportunity and an optimum time to enter the market,” Davies observed.

Topics New Markets Underwriting