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Date: 25 January, 2006
Ref: NOV007

            New Manchester office for insurance underwriter Novae

Liability insurance specialist Novae Underwriting, part of the quoted Lloyd’s insurer SVB
Holdings PLC, has strengthened its commitment to the regional insurance broking market
by opening a new office in Manchester to serve brokers across the north of England.

The team will underwrite professional indemnity, directors’ and officers’ liability, medical
malpractice and general liability risks from its Oxford Street base. At the helm is John
Holmes as regional underwriting manager. Holmes joins Novae with over 14 years’
experience in underwriting both professional risks and financial liabilities for the Liverpool
and Manchester business communities. Most recently he managed a professional indemnity
account worth £45m in Liverpool. His experience includes large insurance names such as
Norwich Union, General Accident and Brit Insurance.

Paul Cregan has been recruited from Hiscox Insurance as development manager. Cregan
also has over 15 years’ experience of underwriting financial lines risks in Manchester and
Leeds, in particular directors’ and officers’ and IT business. Supporting Holmes and Cregan
is Jacqueline Doherty, who joins from Manchester-based broker, Richard Thacker, as
assistant underwriter. She brings 13 years’ experience in account handling and claims

Holmes comments: “Novae’s reputation in professional indemnity, directors’ and officers’
liability, medical malpractice and general liability underwriting is first-class. With individuals

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and organisations under increasing pressure to manage their exposure to these types of
risk, brokers need an underwriter they can rely on time and time again for first-class service
and cover. Our team will be focusing on doing exactly that and I am looking forward to
expanding and building on Novae’s relationships with brokers locally in 2006.”

Stuart Quinlan, underwriting development director at Novae, adds: “The North represents
an important region with an experienced and knowledgeable insurance broking sector and
we are committed to building strong and lasting relationships with brokers there. John and
his team’s regional experience and underwriting expertise give them the ideal platform to
deliver exceptional levels of service to these brokers and their clients.”


Pictured below: (LTO R) John Holmes, Paul Cregan and Jacqueline Doherty open
new Novae Underwriting office in Manchester to serve insurance brokers across
the north of England.

For further information:
Claire Clarke                                     Tel: 0121 753 0222
M Consulting                                      E-mail:

John Holmes                                       Tel: 0161 209 3120
Novae Underwriting                                E-mail:

Notes to Editors
Novae Underwriting Ltd
Novae Underwriting Ltd is a specialist Lloyd’s service company and a member of the quoted Lloyd’s
insurer, SVB. Novae writes Professional Indemnity, Directors’ & Officers’ Liability, Medical Malpractice
and General Liability business on behalf of SVB Syndicates Ltd. Novae business is predominantly UK
based. Security for Novae is SVB’s Lloyd’s Syndicates 2147 and 1007.

Novae Underwriting has regional offices in Glasgow and Manchester. Its Manchester office is based
at Peter House, Oxford Street, Manchester. M1 5AN.

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