Direct Insurance Group Plc, the specialist Lloyd’s broker and wholesaler, is pleased to announce the launch of its new Underwriting agency, Novus Underwriting Ltd (‘Novus’).
Novus, will primarily write Extended Warranty and Affinity (re)insurance business on a worldwide basis, Underwritten by a panel of exclusive A-rated carriers. Novus will operate from its London Headquarters, in addition to offices in Liechtenstein and Miami and is able to initially write the following classes of business;
- New and Used Car Extended Warranty
- Guaranteed Asset Protection (GAP) insurance
- Brown and White Goods Extended Warranty
- Affinity Products and Schemes
David Bearman, CEO of Novus said: ‘At Novus Underwriting we have a very experienced team of people who are considered market leaders in their specialist classes of businesses and who have a proven track record of underwriting profitable accounts. With these appointments we are confident in both their and our continued success. We have already inked a number of significant deals that will see the GWP of Novus surpass €50m in the next 24 months and we are targeting €250m GWP within 5 years.
He continued to say ‘our diverse business has extensive experience of setting up and running specialist MGA’s and our group has experienced astonishing growth in the last 5 years. This new division represents the next chapter in that success story.’
To learn more about the services we are able to provide simply get in touch with the team today.
T: + 44 (0) 20 3961 9830