Novae Group has announced a re-organisation of the key management team within its reinsurance division, Novae Re, in Zurich and London, following a number of departures earlier this summer.

Rob Preston has moved permanently from London to Zurich to oversee the re-organisation as managing director of Novae Zurich. Preston formerly ran Novae’s political violence and kidnap and ransom/piracy unit.

Novae has also recruited four senior professionals to run the international property catastrophe and the agriculture books.

Philippe Chevereau, from Arch Re in Bermuda, will lead the property cat unit, supported by Sebastien Ricout, from Zurich’s New Re. Both will be based in Zurich.

In agriculture, Novae has hired Clive Hardy and Hanne Wagner, from Endurance in London.

In property per risk, Novae has promoted Gareth Christopher, currently chief pricing actuary, to develop the book further, in conjunction with a new senior underwriter whose details will be announced shortly.

Underwriter David May, formerly of Ark, has been employed to lead the general liability unit.

Matthew Fosh, Novae Group CEO, said: “We are sending an unambiguous signal to the market that Novae Re is both central to our corporate plan and also in rude health. We have been hugely gratified by the number of experienced professionals who have sought to join us in recent weeks and we have moved quickly to take advantage ahead of the renewal season. The quality of the new team will give us the skills to continue the development of Novae Re in the international market.”

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