Novae Group has said its new FSA-regulated insurance company subsidiary, Novae Insurance Company has been assigned a Financial Strength Rating of A- (Excellent) by AM Best.

The rating was granted following the Group's written confirmation that it has contributed the planned capital of £100m to the company.

Novae Insurance will commence trading on 1 July 2006.

Peter Matson, chairman of Novae Insurance, said: “This follows the FSA's approval of the business plan in April 2006 and is further endorsement of both the current business and our future plans.

“We can now move ahead with the Group's strategy of creating a dual platform, writing large, international, specialist risks through our flagship Lloyd's business and servicing the UK commercial lines market."

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.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.

Topics