Novae closes international liability unit

Novae has pulled out of international liability, The
Insurance Insider has learned.
The move is said to be in response to difficult market
conditions, which were limiting profitability.
Sources said Novae's international liability book was worth
around £10mn ($12.4mn) in gross written premium.
In a statement to The Insurance Insider, Novae confirmed the
withdrawal and said it is no longer writing international casualty
business.
The firm said: "Novae has decided to close its
international