Sompo acquires rights to Novae FI book renewals

Sompo International, the Bermuda based specialty arm of
Japan's Sompo Holdings, has agreed to acquire renewal rights to
Novae's Syndicate 2007 financial institutions (FI) book.
The deal sees Sompo take on rights to the Lloyd's
syndicate's future FI renewals, excluding emerging market
liabilities, Sompo said today (30 May). The portfolio had gross
written premiums of over $25mn.
Novae's class underwriter for FI, John Richards, will move
to Sompo as part of the deal, along with fellow Novae underw