New offer values Lloyd’s insurer Novae at £477.6m
Global (re)insurer Axis has boosted its offer to buy Lloyd’s insurer Novae to 715p a share from its previous level of 700p a share.
The new offer values Novae, which is listed on the London Stock Excchange, at £477.6m, up from £468m under the original offer.
Axis first announced that it was buying Novae on 5 July.
Axis said: “By offering Novae Shareholders an improved cash offer, AXIS aims to bring certainty to the transaction.”
Shore Capital analyst Eamonn Flanagan said the offer increase could prompt speculation that counter-bids could be possible. But he added: “We remain of the view that this is unlikely.
“We still believe shareholders should accept the offer and move on.”
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
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