Aviation reinsurance losses hit £18m after three crashes
The Air France plane crash helped pushed Lloyd’s insurer Novae into a £18.5m loss in the first half compared with a £16.3m profit last year, the FT reports.
Matthew Fosh, chief executive, said: "It wasn't just the Air France loss, there were aviation claims from Buffalo, the Yemen and the Hudson River.”
Aviation reinsurance losses were £18m.
Financial highlights (2008 in brackets)
- Net premiums written after reinsurance £145.4m (£125.9m)
- Pre-tax loss before foreign exchange movement on non-monetary items £2.1m (£16.8m)
