Novae changes course on US cat treaty exit

Novae has rehired the US property cat reinsurance team that it
agreed in June to transfer to Fidelis and reversed its decision to
exit the class, The Insurance Insider
understands.
Team head Jonathan Gray, his deputy Vicky Baxter and class
underwriter Lucy Forcey had allagreed to join Richard Brindle's start-up Fidelis in the
summer, with the go-forward book set to transfer with them.
However, it is understood that following the agreement of its
£478mn ($618mn) sale to Axis in...