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BRIEF-Novae says written premiums up 13.8 pct in Q1 at constant currency
May 10, 2017 / 6:44 AM / in 3 months

BRIEF-Novae says written premiums up 13.8 pct in Q1 at constant currency

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May 10 (Reuters) - Novae Group Plc:

* Trading update for period ended 31 march 2017

* GWP of 354.9 mln stg (Q1 2016: 282.8 mln stg); 13.8 pct growth at constant rates of exchange during period

* Q1 rates on renewal business down 2 pct across whole account

* Q1 claims performance across core lines was broadly in line with expectations

* Unlikely that group will achieve a combined ratio below 100 pct for financial year

* Q1 investment return: 0.7 pct (Q1 2016: 1.2 pct), ahead of target return

* Investment return for first three months of 2017 was 10.3 mln stg on average assets of 1,472.5 million stg Source text for Eikon: Further company coverage: (Bengaluru Newsroom)

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