Novae and Travelers join Lloyd's construction consortium

Novae and Travelers have joined the construction consortium at
Lloyd's, expanding its total number of lead underwriters to
six, the group announced today (27 May).
The move increases the programme's capacity to around $320mn
per risk, equivalent to in excess of $1bn on a sum insured basis,
which the group said would offer an improved alternative to large
non-Lloyd's carriers.
The consortium was formed in 2013 by Beazley, Sompo Canopius,
Hardy and Talbot syndicates with a total capacity of $167mn