Novae appoints head for its new cyber division

Lloyd’s insurer, Novae Group, has appointed Dan Trueman as head of its new cyber division. He will report to Jonathan Butcher, group underwriting director.

Trueman joins Novae from ANV where he was the lead underwriter for their enterprise risk division. Prior to this he spent 10 years at Kiln, most recently as active underwriter of the enterprise risk division of Syndicate 510, a division he formed and which underwent 350 percent growth in two years. Other roles included developing Kiln’s cyber and reputational risk account and writing political risk and trade disruption Insurance within the marine and special risks division.

“We are very pleased to start 2014 by welcoming Dan to Novae. Cyber insurance is a specialist and niche line of business that is a growing area of interest and one which we have identified as a significant expansion opportunity. Dan is highly regarded in this field and his specialist knowledge, in particular for developing and drafting wordings, together with his extensive experience makes him a real asset to the team. I look forward to working with him,” said Matthew Fosh, chief executive officer of Novae.

Trueman said: “Novae is an ambitious firm with a great reputation for innovation. This, coupled with the interest that cyber insurance is currently generating, makes it a very exciting time for me to be joining Novae. I look forward to working with the team to create a market leading offering.”