July 2017 MARINE, AVIATION, POLITICAL RISK & SPECIALTY Divisional Brochure MARINE, AVIATION, POLITICAL RISK & SPECIALTY 1
Novae is a diversified property and casualty (re) insurance business operating through Syndicate 2007 at Lloyd s. The Group is based in London and has been listed on the London Stock Exchange since 1998. The development and diversification of Novae s underwriting portfolio, combined with a prudent approach to reserving and disciplined expense management is integral to achieving market leading performance across the Group. www.novae.com 2 MARINE, AVIATION, POLITICAL RISK & SPECIALTY MARINE, AVIATION, POLITICAL RISK & SPECIALTY 3
Our strategic aim is to be a leading underwriter of specialist classes of insurance, where the knowledge and experience of our underwriters, combined with flexibility and innovation, deliver us a competitive advantage. Current market conditions require insurers to adapt and innovate, and this is precisely what we have been doing in recent years in the way we have changed and repositioned our business. Matthew Fosh, CEO Novae Group plc 4 MARINE, AVIATION, POLITICAL RISK & SPECIALTY MARINE, AVIATION, POLITICAL RISK & SPECIALTY 5
SPECIALTY INSURANCE SOLUTIONS FROM EXPERT UNDERWRITERS OUR APPROACH IN ACTION Expert underwriting is fundamental to Novae s position as a leading innovative specialty insurer. By cultivating, developing and maintaining knowledge and capabilities in speciality classes of business, the Group is able to deliver excellence in products and service. In response to changing market conditions, we are increasingly focusing on areas of business where we can exhibit a demonstrable competitive advantage and reducing exposure in more generalist areas where we do not offer any great differentiation. Underwriting units are organised into two operating divisions: Property and Marine, Aviation, Political Risk & Specialty (MAPS). This approach improves visibility around performance, assists in the development of new sub-classes, facilitates more efficient reinsurance buying and supports organic growth. Central to achieving our strategic objectives is the recruitment and retention of high quality underwriters who have track records of delivery across the market cycle and deep-rooted relationships with brokers and insureds. We invest heavily in underwriting talent, both external hires and home grown talent. Strengthening Underwriting Expertise We have made significant hires across the business, including Caroline Koczerzat as deputy divisional head of MAPS, Helen Steadman as unit head of Cargo & Specie, Tim Woodhouse as team leader of Political Violence and Jo Chadha, Michael Shen, Sharif Gardner, Stuart Quick in Cyber. Maximising Lloyd s Market Opportunities Award-Winning Product Innovation In 2016 we established Special Purpose Arrangement 6129 ( SPA 6129 ) with Securis, which leverages our agility and underwriting expertise within the Excess & Surplus Lines market in the US. SPA 6129 enables us to broaden the scope of business we write, and was named Innovation of the Year at the London Market Reactions Magazine Awards. Our Construction unit, which was established in 2016 by Steve Cross, forms part of the Lloyd s Construction Consortium. The Consortium is a collaboration of six of the market s major construction insurers and offers a combined PML capacity of up to 320m, thereby providing a viable alternative to the established construction markets. 6 MARINE, AVIATION, & POLITICAL RISK & SPECIALTY MARINE, AVIATION, POLITICAL RISK & SPECIALTY 7
MAPS DIVISION CLAIMS COMMITMENT John Owen Marine, Aviation, Political Risk & Specialty Divisional Head Tel: +44 (0) 20 7050 9464 jowen@novae.com Caroline Koczerzat Deputy Divisional Head Tel: +44 (0) 20 7050 9549 ckoczerzat@novae.com Novae is committed to providing a high quality claims service to all its customers, recognising and understanding their diverse needs across a broad range of underwriting classes. It aims to respond to all claims promptly and fairly. Novae s experienced adjusters operate in specialist teams to ensure the right person is handling customers claims. These teams adopt a proactive approach to case management, supported where appropriate by third party technical and legal experts to ensure the timely, effective resolution of claims. The Group s flat management structure allows adjusters to rapidly escalate issues to senior decision makers, thereby further accelerating the claims handling process. Novae seeks to establish long-term relationships with all stakeholders, and is accordingly committed to maintaining the highest standards of professionalism and integrity and to communicating with brokers and insureds with clarity and transparency. Mark Batterbury Group Claims Director Tel: +44 (0) 20 7050 9162 mbatterbury@novae.com The units noted in the Marine, Aviation, Political Risk & Specialty (MAPS) division accounted for 36.2% ( 326.3 million) of Novae Group s gross written premium in 2016. Following the closure of the Casualty division, the MAPS portfolio consists of 6 major areas, Marine, Cyber, Political Risk, Energy, Aviation Reinsurance, and USA Excess Casualty business. All areas are well established within Novae and have consistently produced significant underwriting profits for the Group. In each division, Novae operates a Programmes Unit to provide innovative solutions for Facilites, which fall outside of individual classes of business. 8 MARINE, AVIATION, POLITICAL RISK & SPECIALTY MARINE, AVIATION, POLITICAL RISK & SPECIALTY 9
Darren Carr Head of Marine Tel: +44 (0) 20 7050 9475 dcarr@novae.com Lee Gammon Senior Tel: +44 (0) 20 7050 9477 lgammon@novae.com Paul Hartley Tel: +44 (0) 20 7050 9478 phartley@novae.com MARINE LIABILITY Novae s Marine Liability unit has expertise across a broad spectrum of marine and energy exposures. Novae is a recognised Lloyd s leader in the field of marine liability. The Marine Liability unit works closely with brokers to offer tailormade liability insurance and reinsurance solutions to the shipping and offshore energy industries. Insureds include shipowners, vessel charterers, port authorities, terminal operators, stevedores, warehouse keepers, freight forwarders and marine contractors. The unit writes primary and excess insurances, and policies can incorporate both marine and non-marine liability. It has a maximum line size of $60 million for marine liabilities and $25 million for energy liabilities. Paul Hartley Tel: +44 (0) 20 7050 9478 phartley@novae.com James King Tel: +44 (0) 20 7050 9479 jking@novae.com MARINE COMMERCIAL COMBINED LIABILITY Novae s Marine Commercial Combined Liability unit is a class-leading provider of marine insurance to the UK marine industry. The Puffin product, as it is known to the market, offers flexible and tailor-made insurance solutions for insureds, such as port authorities, terminal operators, stevedores, warehouse keepers, marine contractors, ship operators, agents and charterers. Clients range from small contractors to multi-national businesses who have exposure to the marine industry, with risks normally covered on a 100% line size basis. The unit offers up to 10 million employers liability and 10 million public/products liability limits, with the ability to tailor limits to insureds needs. In addition to participating on a portfolio of large accounts on a traditional Lloyd s quota share basis, the Marine Liability unit has developed a particularly strong offering for SMEs, writing 100% of primary limits. A large team of underwriters provides a service driven approach, transacting business both in and outside of Lloyd s. Novae s Marine Liability account was established in 1999 and has grown significantly since, consistently providing underwriting profit for the Syndicate. An ambitious and dynamic team of underwriters is led by Unit Head Darren Carr. Business is written at Lloyd s and through coverholders on a global basis. The philosophy of the team is to understand the needs of clients, which allows them to have a flexible and solution based approach to risk. The unit prides itself on giving a high level of service, offering direct access to the decision-making underwriters, a policy issuance service, and prompt and efficient claims handling. The unit was established in 2004 and developed in conjunction with brokers. It is led by Paul Hartley and has a proven track record of client management, as evidenced by high retention rates. The unit is based in London and writes predominantly UK business, but has been successfully expanded into Europe and Australasia. www.novae.com/underwriting/maps/marine-liability/ www.novae.com/underwriting/maps/marine-puffin/ 10 MARINE, AVIATION, POLITICAL RISK & SPECIALTY MARINE, AVIATION, POLITICAL RISK & SPECIALTY 11
MARINE HULL MARINE WAR Richard Bridges Unit Head Hull & War Tel: +44 (0)20 7050 9474 rbridges@novae.com Ross Deering Hull & War Tel: +44 (0)20 7050 9543 rdeering@novae.com The Marine Hull unit has a wealth of underwriting experience across a variety of disciplines within the marketplace. The team works closely with brokers to deliver expert insurance and reinsurance solutions to shipowners, ship managers, financiers and pleasure craft owners. The diverse portfolio includes oceangoing tonnage such as bulkers, tankers, containerships, passenger vessels and cruise ships. There is a strong focus and expertise in the wide range of specialist vessels which support the oil, gas and renewable energy industries extending from tugs, barges and multipurpose supply vessels to pipelayers, research vessels and liftboats. The team also specialises in construction risks, yachts, excess hull and machinery, increased value/total loss insurance, mortgagees interests and port risks. The maximum line size offered is $40 million. Ross Deering Hull & War Tel: +44 (0)20 7050 9543 rdeering@novae.com Richard Bridges Unit Head Hull & War Tel: +44 (0)20 7050 9474 rbridges@novae.com Novae s Marine War unit offers global marine war and piracy coverage across physical damage, loss of hire and protection and indemnity insurances. Novae is a market leader in Marine War, working closely with brokers to offer bespoke insurance and reinsurance solutions. Its agile structure means the unit can provide a one-stop-shop for war and kidnap and ransom coverage, giving shipowners and charterers the cover and peace of mind to support their commercial operations. The maximum line size offered is $60 million. The team s underwriting philosophy is centred on developing longstanding and mutually beneficial relationships, underpinned by a highly technical and proactive knowledge base and an unrivalled service to brokers and clients alike. The Hull account was reinvigorated in 2016, with the addition of two new lead underwriters with a combined market experience of almost 40 years. The account is targeting controlled and sustainable growth. Business is written via a single platform at Lloyd s providing the agility that is required to effectively target an internationally domiciled client base. As a recognised market leader within War, Novae provides superior service levels to both clients and brokers. This offering is further enhanced by the use of security advisors to keep abreast of the prevailing political and piracy risks, as well as recommendations on their mitigation. Lloyd s has long been the centre of excellence for Marine War risks and Novae is at the heart of this in terms of technical knowledge and unrivalled service. The Novae War team is the leader of a number of high profile war accounts within the Market, as well as participating on most of the major market facilities. It is led by Unit Head Richard Bridges, and the team has approaching 40 years combined experience. The territories offered within the War account are worldwide, including the piracy high risk areas of the Gulf of Aden, Indian Ocean and Nigeria. www.novae.com/underwriting/maps/marine-hull/ www.novae.com/underwriting/maps/marine-war/ 12 MARINE, AVIATION, POLITICAL RISK & SPECIALTY MARINE, AVIATION, POLITICAL RISK & SPECIALTY 13
CARGO & SPECIE MARINE REINSURANCE Helen Steadman Unit Head Tel: +44 (0) 20 7050 9549 hsteadman@novae.com David Axtell Underwriter Tel: +44 (0) 20 7050 9621 daxtell@novae.com Novae insures international cargo and specie business via the Lloyd s platform. Clients range in size from Fortune 100 companies to insureds sending a single shipment overseas. Direct and reinsurance business is written in the open market, via broker or producer facilities and MGAs. Bespoke coverage is given for goods in transit, goods in store, cargo stock throughput and project cargo. Specie business is also underwritten for fine art and general specie requiring bespoke cover. The maximum line size offered is $60 million. Stephen Haynes Tel: +44 (0) 20 7050 9481 shaynes@novae.com Selina Lu Tel: +44 (0) 20 7050 9480 slu@novae.com The Marine Reinsurance unit is a respected market leader providing non-proportional marine and energy reinsurance to international (non-lloyd s) based clients. It offers both traditional and bespoke reinsurance solutions based on the individuality of clients results, profiles and needs. The broad geographically diverse account includes ocean, coastal and inland hull, cargo, specie, marine liability, pleasure craft, upstream and downstream energy, ports and terminals, and marine whole accounts. The normal maximum capacity for any one programme is $5 million. In a fast-moving market, the Cargo & Specie unit specialises in finding constructive, timely solutions to brokers problems. It places a particular emphasis on the provision of exemplary service to all business producers, through box availability, innovative solutions, timely responses and availability to meet clients. Novae s Cargo & Specie unit is one of the most experienced in the market. A proven team of underwriters is led by Unit Head Helen Steadman, who has a 25- year track record as a specialist in the cargo market. The unit writes business worldwide. The unit typically leads or plays a significant supportive role in the placement process and has a proven reputation for adapting to clients reinsurance needs. The team is flexible and agile, and always looking to adapt to the changing marketplace. It endeavours to respond in a timely manner and offers a consistent level of service regardless of client/broker stature. The unit has over 40 years collective experience and, despite challenging insurance and reinsurance market conditions, has delivered consistent crosscycle performance since it was established in 2009. It is led by Stephen Haynes, who has been in the reinsurance industry for thirty years. Novae writes marine reinsurance business globally, with a particularly strong presence within Asia, Europe, North America, Africa and the Middle-East. www.novae.com/underwriting/maps/cargo/ www.novae.com/underwriting/maps/marine/ 14 MARINE, AVIATION, POLITICAL RISK & SPECIALTY MARINE, AVIATION, POLITICAL RISK & SPECIALTY 15
AVIATION REINSURANCE ENERGY Andy Hartley Unit Head Tel: +44 (0) 20 7050 9461 ahartley@novae.com Phil Taylor Deputy Unit Head Tel: +44 (0) 20 7050 9462 philtaylor@novae.com With a particular expertise in providing catastrophe XOL cover, Novae s Aviation Reinsurance unit is a recognised market leader in the class and has developed a network of strong relationships with clients and brokers. In addition to its core account of major risk XOL, the unit also offers cover for General Aviation XOL, Aviation Pro Rata and Space Pro Rata. The emphasis is based on providing ongoing solutions for reinsurance partners, and the success of this approach is borne out by a significant client base, the majority of whom have reinsured with the unit across the market cycles. Jason Poulastides Unit Head Tel: +44 (0) 20 7050 9469 jpoulastides@novae.com Cliff Payne Tel: +44 (0) 20 7050 9468 cpayne@novae.com Specialising in oil and gas, Novae s Energy unit underwrites a broad range of energy risks around the world. The focus is predominantly on London market upstream energy risks, but downstream business is also underwritten within integrated policies. The account includes offshore and onshore physical damage (fixed platforms, pipelines and mobile units), Operator s Extra Expenses (OEE), third party liability and loss of production income. The risk appetite also embraces more niche areas of the portfolio such as construction all risks and Gulf of Mexico wind coverage. The unit has a maximum line size of $125 million. Chris Hazel Tel: +44 (0) 20 7050 9466 chazel@novae.com The Aviation Reinsurance unit seeks to understand the individual reinsurance needs of its clients and create solutions that are effective and remain relevant in an ever-changing market. The team invests time and resource into building relationships and maintaining excellent service delivery. It strives to respond to requests quickly, provide constructive feedback, and pay claims in a timely and efficient manner. The Aviation Reinsurance account was established in 2000 and is underwritten by Andy Hartley and Phil Taylor. Between them Andy and Phil have over 50 years experience giving them a deep understanding of the class. Since 2000 the unit has provided capacity on a lead or major following basis and due to its agile and flexible approach has built up a worldwide client base, the majority of whom have a longstanding relationship with Novae. The Aviation team writes business across the world. Novae s Energy unit takes a highly technical approach to this specialist class of business. The book is mainly package-based business with a focus on the production side of the market, which is short tail in nature. An agile unit, it is responsive and adapts to the changing needs of an evolving market. The Energy unit is service led, with a reputation for consistency and quick turn-around of business. Novae has written this class of business since 2006 with a strong reputation and track record of profitability. The team is made up of 5 people, including 3 underwriters with over 60 years experience between them. It is led by Unit Head Jason Poulastides, who has been underwriting energy insurance since the 1990s and joined Novae in 2006. The territories underwritten are worldwide with a focus on the major onshore and offshore oil and gas production areas. These include the North Sea, Gulf of Mexico, onshore North America, West Africa, Middle East, former Soviet Union and Australasia. www.novae.com/underwriting/maps/aviation/ www.novae.com/underwriting/maps/energy/ 16 MARINE, AVIATION, POLITICAL RISK & SPECIALTY MARINE, AVIATION, POLITICAL RISK & SPECIALTY 17
RENEWABLE ENERGY POLITICAL RISK James Green Tel: +44 (0) 20 7050 9490 jgreen@novae.com Valeria Del Villano Tel: +44 (0) 20 7050 9121 vdvillano@novae.com Novae s Renewable Energy unit specialises in all key renewable energy sectors, across the full life-cycle of such projects, and on a global basis. The unit offers holistic underwriting solutions for the industry, and is distinctive for writing emerging new technologies, and offering both core and complementary ancillary products. Clients include contractors, developers, owners, operators, manufacturers and financiers across a range of sectors including; wind power (onshore and offshore), solar, bioenergy, hydro, geothermal, wave and tidal, and other emerging technologies. Risks include pre and early works cover, transit (marine and inland) and stock throughput, construction, advanced loss of profits, operation, business interruption (including contingent business interruption), decommissioning, natural catastrophe risks, general/third party liabilities and employers liability. Richard Lamb Unit Head Tel: +44 (0) 20 7050 9484 rlamb@novae.com Novae is a recognised market leader in the credit and political risk insurance market, offering products to a variety of clients including banks, ECAs, multilateral organisations and commodity traders. The account covers a broad range of contractual structures against risks including non-payment, non-delivery, embargo, force majeure, confiscation, deprivation, forced abandonment and currency inconvertibility. The unit is increasingly focused on writing longer term business, such as export finance, project finance and asset-backed finance. The unit also offers financial guarantee products, focusing on non-trade, unsecured corporate finance, as well as mortgage indemnity products. The maximum line size offered is $50m for political risks and $30m for credit risks. The Renewable Energy unit has a thorough knowledge of the industry, allowing it to offer tailored, packaged and robust solutions to brokers and clients. It prides itself on its ability to offer thought leadership, flexibility and quick decisions. The unit synergises with other Novae product lines to provide holistic solutions that meet the evolving needs of this rapidly growing industry. It also offers loss mitigation, control and risk engineering services through a network of approved external partners. Novae has a history of writing renewable energy business under the auspices of other classes but established a dedicated Renewable Energy unit in 2015. It is led by James Green and Valeria Del Villano, who bring extensive market experience from a number of leading firms. The Renewable Energy unit utilises the Lloyd s network to its fullest extent, operating globally. Its criteria when writing business is focused more around technology than territory. The Political Risk unit s underwriting philosophy is centred around meeting the needs of clients, providing solutions with speed and insight. By empowering its underwriters to make decisions, innovate product offerings and develop client relationships, the unit offers a high level of service that differentiates it within the market. Novae began writing Political Risk business in 2000, when the unit was established by John Owen. John retains an active involvement but now heads Novae s Marine, Aviation, Political Risk & Specialty Division; the Political Risk unit is led by Richard Lamb. Richard has been an integral part of the Political Risk unit since 2006. The unit has enjoyed consistent growth year on year, and is a market leader with a premium income of over 60m. The unit considers risks from around the world, but most business is written in emerging markets and particularly Africa, Latin America and Asia. www.novae.com/underwriting/maps/renewable-energy/ www.novae.com/underwriting/maps/political-risk/ 18 MARINE, AVIATION, POLITICAL RISK & SPECIALTY MARINE, AVIATION, POLITICAL RISK & SPECIALTY 19
POLITICAL VIOLENCE CRISIS MANAGEMENT Tim Woodhouse Senior Tel: +44 (0) 20 7050 9635 twoodhouse@novae.com Elizabeth Heslip Senior Tel: +44 (0) 20 7050 9488 eheslip@novae.com Novae s Political Violence unit is an experienced team offering cover for a range of Terrorism and War on Land risks on a worldwide basis. The account includes cover for all aspects of the Political Violence portfolio, for a broad range of industries. The core account offering is for the traditional Physical Damage and Business interruption covers in respect of the Terrorism, Strikes, Riots, Civil Commotion and War on Land perils. The unit does offer flexible coverage, reacting to the needs of business from the changing global terrorism threat. Additional coverages include terrorism liability, impairment of access, event cancellation and cyber terrorism. The unit has a maximum line of $50 million. Kieron Russell Senior Tel: +44 (0) 20 7050 9542 krussell@novae.com Callum Bennett Tel: +44 (0) 20 7050 9463 cbennett@novae.com Novae s Crisis Management team offers an experienced, versatile approach to crisis management insurance on a worldwide basis. Its broad client base encompasses shipowners, charterers, retailers and general manufacturers. The account includes marine kidnap and ransom, ransom monies, in-transit loss of monies, consultant costs, legal liability, product recall, recall costs, replacement costs, business interruption, reputational harm and brand impairment. The unit has a maximum line size of $20 million. Tom Simpson Tel: +44 (0) 20 7050 9489 tsimpson@novae.com The Political Violence market is highly competitive and constantly changing, with clients facing ever-more complex and uncertain exposures. Novae s response is to be agile and innovative; it is constantly evaluating its risk selection criteria and bringing new products and solutions to the market. Novae has traditionally been a follow market in this arena, but with the recent recruitment of experienced lead underwriter, Tim Woodhouse, is looking to lead a greater proportion of the business that it underwrites. Novae started underwriting this account in 2007 and in recent years the unit has grown quickly. The unit has over 40 years combined experience in the market and is led by Tim Woodhouse, who joined Novae in 2017. The Political Violence team writes business on a global basis. The Crisis Management team specialises in non-standard risks and develops products to meet the developing needs of an evolving market. These products are often intangible, covering risks that are difficult to quantify, and as such are not widely available in the market. Novae seeks to recruit top industry talent to deliver innovative solutions to a diverse client base and has ambition to become a market lead. The team was established in 2012 and is led by Kieron Russell. Kieron s experience includes both brokering and underwriting crisis management business. The Crisis Management unit writes business globally. www.novae.com/underwriting/maps/political-violence/ www.novae.com/underwriting/maps/crisis-management/ 20 MARINE, AVIATION, POLITICAL RISK & SPECIALTY MARINE, AVIATION, POLITICAL RISK & SPECIALTY 21
CYBER USA EXCESS CASUALTY Dan Trueman Unit Head Chief Innovation Officer Tel: +44 (0) 20 7050 9388 dtrueman@novae.com Novae s market-leading approach to the fast-growing area of cyber insurance is founded on a commitment to product innovation, market education and meeting the changing needs of a diverse range of clients. A recognised thought leader, the Cyber unit collaborates with leading organisations across all sectors from leading technology firms to world class academic institutions to validate models and assumptions. As well as offering a best in class product, Novae Cyber Connect, which caters for the changing needs and demands of clients, the unit runs regular Understanding Cybersecurity & Insurance courses for clients and brokers. All of the broad sub-classes of cyber and privacy insurance are covered for both first and third party risks. Both primary and excess business is underwritten through facultative placing, facilities or binding authority business. Nicola Wood Unit Head Tel: +44 (0) 20 7050 9501 nwood@novae.com Laurence Burrows Senior Underwriter Tel: +44 (0) 20 7050 9420 lburrows@novae.com Novae has an experienced team of USA liability underwriters writing a broad array of insureds by offering technical expertise and consistency of underwriting. The USA Excess Casualty unit is able to write syndicated placements of lead umbrella business in Lloyd s of London, as well as standalone capacity of up to $25 million on a high excess basis. Its client base includes life sciences, commercial and residential construction, Fortune 1000, transportation and energy. Through attention to detail and listening to clients requirements, the unit provides technically backed underwriting solutions for USA-domiciled or USA exposed international clients. The Cyber unit operates a partnership model, working with clients to understand the particular risks they face and mitigate them where possible. Its approach is based on three key principles: analysis, risk transfer, and response. The team seeks to develop and share a detailed understanding of the risk landscape, to create tailored policies, and to offer immediate support in the aftermath of a cyber event. Novae established its Cyber unit in 2014, since then it has grown rapidly. The team boasts over 50 years of combined cyber and tech market experience, enabling it to adapt quickly to the changing needs of clients. It is led by Dan Trueman, whose experience of writing cyber business extends back to dotcom risks in the early 2000s. The Cyber unit underwrites risks worldwide. The majority of the risks underwritten are in North America but with regulations changing the unit is now working on every continent except Antarctica. The unit writes each risk purely on its own merits which, combined with strong support from Novae s actuarial, legal and claims departments, means it is able to provide solutions in a highly technical market where others struggle. The team works with clients to understand their requirements, and aims to build long-term relationships with brokers and clients based on shared technical understanding and values. It seeks to provide a fast turnaround of quotes that are contract certain prior to binding. Novae s USA Excess Casualty unit was established in April 2015 and is steadily growing. The team has a wealth of experience, and is led by Nicola Wood, who has 14 years experience writing excess casualty business, and Laurence Burrows, who has written this class for 8 years. The unit benefits from a supportive management structure. The unit is based in London and operates at Lloyd s, and writes business domiciled in the USA and Canada, or international companies that have large USA based operations. www.novae.com/underwriting/maps/cyber/ www.novae.com/underwriting/maps/usa-excess-casualty/ 22 MARINE, AVIATION, POLITICAL RISK & SPECIALTY MARINE, AVIATION, POLITICAL RISK & SPECIALTY 23
London Office 21 Lombard Street, London EC3V 9AH Tel: +44 (0) 20 7050 9000 Bermuda Office Ideation House 94 Pitts Bay Road Pembroke, HM08 Bermuda Tel: +1 441 278 86 00 enquiries@novae.com www.novae.com Novae Syndicates Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Novae Bermuda Underwriting Limited is authorised and regulated by the Bermuda Monetary Authority. 24 MARINE, AVIATION, POLITICAL RISK & SPECIALTY