Lloyd's (re)insurer Novae told shareholders this morning that it is rebuilding its depleted Zurich reinsurance arm, Novae Re, while unveiling a healthy rebound in profits for the first half of 2012.
"Management has moved swiftly to rebuild the Zurich team and replacements for all key positions have either now been appointed or identified and are in the advanced stages of negotiation," Novae said in its interims.
However, as previously predicted by The Insurance Insider, the (re)insurer confirmed it is exiting...
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