Insurer profits rise 8%.
Novae Group has reported pre-tax profits for the first half of the year of £16.8m, up 8% compared to last year.
Gross written premiums rose to £186m from £173m in the first half of 2007.
Matthew Fosh, the specialist insurer’s chief executive, said: “This is an encouraging set of results in challenging circumstances. Market conditions remain testing, but profitable opportunities remain, and both financially and operationally our position continues to strengthen.”
Novae’s combined ratio declined to 86.7% compared to 86.1% last year.