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Novae confirms liability expansion

Novae Group plc has opened an international general liability (GL) account with the recruitment of two senior underwriters to its Lloyd’s Syndicate 2007.

Mark Davies and Rupert Taylor have joined the company as joint unit heads of the specialist international general and products liability account – as first revealed by Insider Week.

The team will write both primary and excess business with a particular focus on industrial, manufacturing, onshore energy, transportation, utilities, construction and mining sectors.

Novae said that most risks will be considered, with the exception of US-registered companies, and the team will look to write both open market placements and facility business on a predominantly lead basis.

Peter Matson, chief underwriting officer for Novae Group, said: “Both Rupert and Mark are highly respected underwriters with enviable track records in the international GL arena. They have all the ingredients to establish a successful and profitable account known for its underwriting quality and philosophy.”

Taylor formerly spent ten years at ACE as multinational casualty manager and Davies has spent eight years as a class underwriter of international GL risks with ACE, Catlin and, most recently, Constable Syndicate.

Davies, joint unit head of international GL, said: “Between us we have considerable experience writing a profitable international GL account and with both a healthy capacity behind us and a forecasted turn in the cycle this is a great opportunity and an optimum time to enter the market.”

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