Novae CEO hails Lloyd's first as it unlocks capital with transfer
Novae Group has received consent to transfer insurance liabilities from Novae Insurance Company to the group's Lloyd's Syndicate 2007.
An order was made by the High Court on 21 September 2010 and by the Royal Court of Jersey on 24 September 2010.
Following the transfer of insurance liabilities, the surplus capital held by NIC will be
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