Novae To Launch Operations In Bermuda
Novae announced that, subject to obtaining the necessary licenses and other approvals from the relevant Bermudian and UK regulators, it intends to launch operations as a group reinsurer of, and coverholder for, Syndicate 2007 at Lloyd’s in Bermuda.
Philippe Chevereau will be the resident manager of the Bermuda operation and will also remain Novae’s Head of Property Casualty Treaty Reinsurance.
Mr. Chevereau joined Novae in 2012 to head its International Property Catastrophe Unit. Prior to this he was an international property treaty underwriter for Arch Reinsurance in Bermuda. He has twenty years’ experience in the insurance market, during which time he has held senior roles with Aon Rueck in Hamburg and SPS Re in Paris.
Novae CEO Matthew Fosh commented: “We have identified a number of opportunities in Bermuda that would enhance our strategy. Philippe’s previous experience of working in Bermuda, together with his underwriting expertise, will be invaluable in developing our presence in the Bermudian market.”
Will this be a class 4 offering JOBS?