Novae Group plc, the specialist listed Lloyd’s insurer, announced the appointment of Adam Cragg as group chief operating officer. He reports to Matthew Fosh, chief executive officer of Novae.
Cragg brings 25 years of experience in the insurance industry to Novae. He joins from Beazley Plc where he served most recently as head of Operations for UK and Rest of the World. In this role he was tasked with managing operational services across eight global offices. Cragg joined Beazley in 2008 as Business Technology Manager. Prior to joining Beazley, he held senior IT roles at ACE Group and Premium Credit Ltd.
In July, AXIS Capital Holdings Ltd. announced it is acquiring Novae Group for US$604 million; the deal is expected to close in the fourth quarter of 2017.
Established in 1986, Novae writes property, marine, aviation, political risk and specialty business between its offices in London and Bermuda and has a market capitalization of more than £450 million ($584.8 million).
Source: Novae Group