Novae Announce Senior Appointment

by Stewart Douglas

Story link: Novae Announce Senior Appointment

Novae Syndicates have today announced the appointment of Richard Allen to the post of unit head of the Financial Institutions team, to succeed current boss Jonathan Butcher when he assumes a new role later on in the year.

The appointment is set to bring Richard Allen to the forefront within the Financial Institutions Department, with a view to improving customer service offerings and strengthening the current division, whilst also providing an ideal opportunity for internal appointment within the existing management framework.

The move to appoint Allen has been seen as a significant step for Novae Syndicates, presently a wholly-owned subsidiary of the Novae insurance group, and one of the biggest financial institutions at Lloyd’s. Allen is currently employed at a more junior level within the organisation, and is said to be delighted at the prospect of progressing to levels of greater responsibility within the business.

Richard Allen is currently employed within the financial institutions unit as a class underwriter, and will be appointed in place of Jonathan Butcher to the top role within that department later on in the year, as he also moves to a new position of Active Underwriter for the Novae Syndicate 2007.

At just 33, Allen is one of the youngest underwriters within the Novae group to accede to unit head level, off the back of a distinguished pedigree starting in 1996 and his appointment to early underwriting positions. After joining Syndicate 1007 in 2000, Allen has proven himself to be competent in both underwriting and management, which Novae say has earned him his promotion.

Both Allen and representatives of the Novae group are said to be delighted with the appointment, which will see Allen assume the role upon the departure of his colleague.

The move has been welcomed as a sign of the strength of the current Novae management structure, which has seen several notable internal appointments in recent years.