Novae Group News

AXIS Capital Completes Purchase of Novae; Executive Team Announced

AXIS Capital Holdings Ltd. it has finalized its acquisition of Novae Group plc, which creates a $2 billion insurer in London and a top ten re/insurer at Lloyd’s, with 2016 global gross written premiums of $6 billion. The $611.5 million …

AXIS Capital to Complete Acquisition of Novae Group in October

AXIS Capital Holdings Ltd. said it will complete its acquisition of London-based Novae Group plc in two phases, beginning with the acquisition of Novae shares, which is expected on Oct. 2, 2017. This will be followed by management control and …

AXIS Capital’s $611.5M Acquisition of Novae Approved in Shareholder Vote

AXIS Capital Holdings Ltd. announced that shareholders of Novae Group have approved the company’s acquisition by AXIS. Approximately 99.97 percent of shareholder votes were cast in favor of the deal. AXIS announced last week it had substantially sweetened its offer …

AXIS Sweetens Offer for Lloyd’s Specialty Carrier Novae to $611.5M

AXIS Capital Holdings Ltd. has substantially sweetened its offer for Novae Group plc, a Lloyd’s of London specialty insurer and reinsurer. AXIS, a Bermuda-based specialty insurer and reinsurer, said it will now pay $611.5 million in cash for Novae, up …

Novae Group Appoints Beazley’s Cragg as Chief Operating Officer

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 …

AXIS Capital to Acquire Lloyd’s Specialty Re/Insurer Novae for $604 Million

AXIS Capital Holdings Ltd. announced it is acquiring Novae Group plc, a specialty re/insurer that operates through Lloyd’s of London. “The US$604 million transaction adds scale and breadth to the international specialty insurance business of AXIS, creating a $2 billion …

Novae Expands Cyber Team with Appointment of Quick from IBM

Novae Group plc, the specialist listed Lloyd’s insurer, announced that Stuart Quick has joined its cyber team as breach response and cyber operations manager, reporting to Dan Trueman, head of cyber and chief innovation officer. Quick was previously a managing …

Novae Launches Construction Unit with Appointment of Cross

Novae Group plc, the specialist listed Lloyd’s insurer, announced that Steve Cross has joined as unit head – construction. He is based in London and reports to Stuart Heath, divisional head of property. Cross joins from CNA Hardy where he …

Ironshore Acquires Novae Group’s Agricultural Team and Renewal Portfolio

Bermuda-based Ironshore International announced the acquisition of the reinsurance renewal rights to Novae Group’s global agriculture reinsurance portfolio. The transfer is conditional on Lloyd’s approval and is expected to be completed in November 2015. Novae’s team of five agriculture reinsurance …

Waiting List for Insurers to Get Seats on Lloyd’s Underwriting Floor Hits Record

The waiting list for an insurer to get a spot on the underwriting floor of Lloyd’s of London is the longest in its 327-year history, indicating record demand for access to the market. Lloyd’s has requests for about 160 so-called …