Lloyd's insurer Novae Group has appointed Adam Cragg as group chief operating officer. Cragg will report to Matthew Fosh, chief executive officer of Novae. Fosh said: "I am delighted to welcome Adam to the team. He brings a wealth of technological and operational expertise to Novae and an exceptional track record. He is a key addition to the senior executive team and his knowledge, skills and experience will add enormous value to the Group."
“We have completed the underwriting transformation of Novae into a focused Lloyd’s business, which has included the withdrawal from certain casualty classes where we deem future profitability to be unsustainable,” said group chief executive Matthew Fosh....“Establishing a point of differentiation in today’s market is critical – the Group’s strategy over the past three years has been to pursue that goal.”