News – Page 328
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Online onlyFosh defends Novae business restructure
Novae boss Matthew Fosh has defended recent changes to the specialist (re)insurer’s business structure after posting first half losses.Novae reported a net loss attributable to shareholders of £24.9m, down from £10.8m profit at 30 June 2010.But Fosh said despite the tough market conditions in 2011, the shift in business mix ...
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Online onlyNoonan: Transatlantic directors ‘burying heads in sand’
Validus chief executive Ed Noonan has hit back at Transatlantic’s rejection of his firm’s offer, accusing Transatlantic’s board directors of “wilfully burying their heads in the sand”.Yesterday Transatlantic issued a statement urging its shareholders to reject Validus’s offer of 1.5564 Validus shares and $8 in cash for each Transatlantic share. ...
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