SVB launch SME start-up
SVB Holdings has announced its intention to launch an insurance company to write SME business for re...
SVB Holdings has announced its intention to launch an insurance company to write SME business for regional brokers. It will write professional indemnity, general liability, directors' and officers' and medical malpractice insurance. Novae Underwriting will fold into the new company to be called Novae Insurance, which will begin trading 1 July.
SVB posted a before tax loss of £13.9m loss for 2005, a vast improvement over 2004 which saw losses of £113.6m. A spokesman said the company was on track
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