Novae grows property team with Torus hire

Novae Group, the specialist listed Lloyd’s insurer, has strengthened its European property team with the appointment of Mervyn Albon as class underwriter UK & European property.

Albon has been appointed to assist with the expansion of the UK/European property book and to develop its mid net worth and high net worth residential property insurance offering.

He will report to Stuart Heath, unit head of UK/European property & PA.

Albon joins Novae with over 26 years of experience in property insurance. His most recent role was as the underwriting manager at Torus Syndicate 1301 at Lloyd’s, where he was responsible for running a European book of property business.

Prior to this he spent 11 years as a property underwriter working for Brit Insurance, Hiscox and Chubb.

Ian Burford, joint active underwriter, said: “We are pleased to have attracted such a knowledgeable and talented underwriter as Mervyn. His underwriting experience, together with his expertise and relationships with specific coverholders across Europe, will bring a unique perspective to the team that will be incredibly beneficial to our clients.

“Our property book has been experiencing solid growth and with Mervyn’s insight and specific knowledge of the mid and high net worth markets, we hope to continue the development of that business throughout 2014.”

Albon said: “It is a great time to join Novae as it is building a significant market presence. The property team is well respected so I look forward to working with them to ensure Novae benefits from the opportunities for growth that exist within the portfolio.”