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Article: Updates; SVB Holdings to form new U.K.-based unit.(SVB Holdings)(company earnings of Equitable Life Assurance Society of the United States)(AON Consulting (Winston-Salem, North Carolina) has appointed Robert Middleton as chief executive)
- Article from:
- Business Insurance
- Article date:
- April 3, 2006
CopyrightCOPYRIGHT 2006 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SVB Holdings P.L.C. has announced plans to raise about u110 million ($192.2 million) to set up a U.K.-based insurance company and to restructure the group. SVB, which currently operates two Lloyd's of London syndicates, will set up a new holding company, Novae Group P.L.C. The company will continue to write business at Lloyd's but will set up a new U.K.-based company to write U.K. liability business for small and midsize companies outside the Lloyd's market, said Matthew Fosh, chief executive of SVB. The new company will be called Novae Insurance Co. Ltd.
Equitable considering sale of annuities book
Equitable Life Assurance Society announced last week ...