Novae raises reinsurance spend for future growth

Novae has increased its reinsurance buying to mitigate increased US
catastrophe exposure and bed down future growth in its underlying
business, CEO Matthew Fosh has said.
Speaking to The Insurance Insider
following the publication of Novae's first half results, Fosh
said continuous growth through its US property facilities binder
had led to increased cat exposure, which in turn had driven up its
reinsurance spend.
"We have substantially increased our reinsurance buying to
protect the business fr