24 May 2016 Insurance

Novae hires Mitsui Sumitomo execs for marine team

Novae Group (Novae), a specialist listed Lloyd’s insurer, has appointed Richard Bridges as unit head and Ross Deering as class underwriter for hull and war for its expanding marine team.

Bridges and Deering both join from Mitsui Sumitomo at Lloyd’s syndicate 3210.

Bridges has over 21 years of experience underwriting marine hull for Lloyd’s syndicates and member companies of the International Underwriting Association. He was most recently class underwriter for marine hull and war for syndicate 3210.

He has also worked as deputy class underwriter for marine hull at Chubb Managing Agent and has held senior roles Württembergische UK and Eagle Star Insurance.

Deering has over a decade of experience, having previously worked as hull underwriter for syndicate 3210. He has also spent six years in QBE’s marine and energy syndicate 1036.

John Owen, divisional head of marine, aviation and political risk (MAP), said: “Richard and Ross are highly talented underwriters with proven track records of building profitable books of business in this class.

“Despite a challenging industry environment, we still see opportunities for growth in niche areas of the market and their experience makes them well placed to support the continued expansion of our MAP division.”

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