Novae has recruited an underwriter to focus solely on writing financial institutions business in emerging markets and commercial crime in the UK regional market.

David Leaper, class underwriter – emerging markets, will predominantly write bankers blanket bond and electronic and computer crime covers for commercial banks. The emerging markets remit covers in developing countries will be areas of particular interest. The account will also cover commercial crime business, targeted primarily at medium to large UK regional commercial entities.

Leaper commented: ”These emerging markets are undergoing very rapid change and development. In fact, some businesses I've looked at are experiencing asset growth in the region of 40% to 50%. So there is much profitable business to write in these territories. With many predicting a hardening of current market conditions over the next 18 months, now is a good time to establish our market offering.”

Leaper has experience of senior underwriting positions at Chubb, Trenwick and Sorema.