Novae hires UK property underwriter from Torus

Lloyd’s Novae has hired Mervyn Albon as class underwriter for UK and European property.

He has been appointed to help grow Novae’s UK and European property book and develop its mid and high net worth residential property insurance offering.

He will report to head of UK and European property and personal accident Stuart Heath.

Albon joins Novae from rival Lloyd’s insurer Torus, where he was underwriting manager of Torus Syndicate 1301. At Torus, Albon was responsible for running a book of European property business.

He previously worked at Brit, Hiscox and Chubb.

Novae joint active underwriter Ian Burford said: “We are pleased to have attracted such a knowledgeable and talented underwriter as Mervyn.

“His underwriting experience, together with his expertise and relationships with specific coverholders across Europe, will bring a unique perspective to the team that will be incredibly beneficial to our clients.

“Our property book has been experiencing solid growth and, with, Mervyn’s insight and specific knowledge of the mid and high net worth markets, we hope to continue the development of that business throughout 2014.”

Albon added: “It is a great time to join Novae, as it is building a significant market presence. The property team is well respected, so I look forward to working with them to ensure Novae benefits from the opportunities for growth that exist within the portfolio.”