Richard Allen promoted as new active underwriter appointed
Novae Syndicates, the wholly-owned managing agency subsidiary of Novae Group, has appointed Richard Allen as unit head of its financial institutions team.
Richard Allen, currently a class underwriter for the financial institutions unit, takes over from Jonathan Butcher who will become Active Underwriter of Novae Syndicate 2007 later in the year.
Allen began underwriting financial institutions business in 1996. He joined Syndicate 1007 in October 2000 and, at 33, his latest promotion makes him one of the youngest underwriters to assume a unit head role at Novae.
Richard said: "Heading up the financial institutions team for the Syndicate is a great opportunity for me, and I am looking forward to the new challenges that this role will bring."
Novae is one of the largest financial institutions markets at Lloyd's and leads the majority of its business. The unit has a worldwide client base with particular emphasis on the UK, the United States, South Africa, Canada and Australia.
Jonathan Butcher, the Active Underwriter designate of Novae Syndicate 2007 said: "Richard is one of the market's most talented financial institutions underwriters and he is highly respected by his clients, colleagues and peers within the wider market. He brings a wealth of specialist expertise and experience in this class to his new role."
