Novae stock leaps on legacy solution and profits guidance
Novae Group's share price climbed by almost 6 percent today (9 February) after the Lloyd's insurer confirmed plans to finally exorcise its past US casualty reinsurance liabilities and revealed that 2010 profits will be more than 10 percent above analysts' consensus forecast.
By midday on the London Stock Exchange Novae's share price was up 20p to 370p as analysts and investors responded warmly to the news.
The UK-listed (re)insurer said that it will reinsure its so-called open year syndicates into...
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