Insight and Intelligence on the London & International Insurance Markets

25 February 2018

Search archive

Axis upsizes Novae legacy deal to $1.1bn

Catrin Shi and Adam McNestrie 10 November 2017

Axis has almost doubled the size of its proposed legacy sale of Novae's back book and is in late-stage discussions with Enstar and an R&Q-Axa consortium, The Insurance Insider can reveal.

Sources said that Axis is looking to hand off all business that Novae wrote before 1 January 2016, which amounts to net reserves of £850mn ($1.16bn).

Earlier this year Aon Benfield was drafted in by Novae's board to help the carrier explore a structure to curtail its exposure to...

If you are a non-subscriber but would like to be able to view this article, then please go to our Publications page for further information on joining our readership


Euromoney Trading Limited - 3rd Floor, 41 Eastcheap, London, EC3M 1DT, United Kingdom. The content of this website is copyright of Euromoney Trading Limited 2018. All rights reserved Euromoney Trading Limited actively monitors usage of our website and products and reserves the right to terminate accounts if abuse occurs.