Novae grows GWP 16.5% at Q3 despite pricing fall

Lloyd's (re)insurer Novae posted a 20.3 percent increase in
gross written premium to £619.5mn for the nine months to 30
September - an increase of 16.5 percent at constant rates of
exchange.The growth was achieved despite a 3.4 percent fall in rates on
renewal business for the period across the whole account.
The firm attributed its underlying growth to investment in new
underwriting teams and new business opportunities.The top line was also boosted by the strengthening of the...