Novae to launch E&S sidecar with Securis

Lloyd's managing agency Novae has secured approval from the
Corporation to establish a special purpose syndicate (SPS) with
capital backing from major alternative fund manager Securis, sister
title Trading Risk reported late last
week.
It is understood that the Lloyd's sidecar will be a
class-specific vehicle - the first beyond the catastrophe
reinsurance space - writing solely US property excess and surplus
lines (E&S) business.
The sizeable new SPS will allow Novae to continue the rapid
ex