Opinion: a clean slate?

News that Novae isexploring a legacy transaction to hand off some £450mn
($580mn) of net reserves raises numerous questions.
But the one which feels most pertinent is whether this attempt
to clear the decks will ultimately signal the start of a
much-needed new chapter for the Lloyd's carrier.
It's been a tumultuous few months at Novae; a period
punctuated by profit warnings, large losses and redundancies. The
days of double-digit RoEs and glowing investor praise seem to be a...