Novae gross premiums up 48% in first quarter
(Re)insurer Novae, says its gross written premium for the first three months of 2010 hit £167.2m, up 48% on last year's £113.1m.
Rate increases averaged 2% for the first quarter, said the group in its earnings statement.
Investment return was £8.9m, against £7.5m in Q1 2009. This equated to a return on average invested assets
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