Novae opts for depth over breadth in turnaround bid

Lloyd's insurer Novae has said it will focus on classes in
which it is an established leader to drive an underwriting
turnaround following a succession of profit warnings that have led
to a negative re-rating of the carrier's shares.
In a trading update last week the company said it would be
withdrawing from four casualty lines, while CEO Matthew Fosh warned
that Novae was "unlikely" to end 2017 with a combined
ratio under 100 percent.
Fosh said future profitability in...