Novae Group P.L.C. has promoted Jo Butcher to chief executive of Novae Syndicates Ltd., the Lloyd’s of London insurer said Monday.
Mr. Butcher, who was previously group underwriting director at Novae, takes over from Jeremy Adams, who will retire April 1, a spokeswoman for Novae said. He is based in London.
Meanwhile, London-based Rob Forster has been named to fill Mr. Butcher’s previous role, now titled chief underwriting officer. The spokeswoman said Mr. Forster was most recently Novae’s divisional head of marine, aviation and political risks and joint active underwriter.
In a series of additional executive changes, Novae named Stuart Heath as divisional head of property, John Owen as divisional head of marine, aviation and political risks, and Bob Patten as divisional head of casualty, Novae said in a statement.
Finally, Ian Burford has been named underwriting performance director and sole active underwriter for Lloyd’s syndicate 2007, Novae said in the statement.
(Reuters) - XL Group P.L.C. said it would buy underwriter Catlin Group Ltd. for about 2.79 billion pounds ($4.28 billion), increasing the Dublin-based insurer's share of business written in the Lloyd's of London market to nearly 10%.