Axis buys Novae for £468m
The board of the Lloyd's insurer to "unanimously recommend" the offer.
Axis Capital Holdings has made a recommended cash offer to buy Novae Group for £467.6m.
Lloyd’s insurer Novae has been listed on the London Stock Exchange since 1998 and specialises in property, casualty and marine, aviation and political risks.
Bermuda-based Axis provides specialty lines insurance and reinsurance.
Strategy
Albert Benchimol, president and chief executive officer of Axis, commented: “We are very pleased to announce this proposed acquisition of Novae which will create a c
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